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One of the Euromarket's great names will cease to exist next year when, 40 years after SG Warburg lead managed the Autostrade deal that launched the market, UBS moves to a single brand. UBS is to write down the value of the PaineWebber brand for Sfr1bn, but does not assign any value to the Warburg name. UBS Warburg becomes the more prosaic UBS Investment Bank.

Rating: A3/BBB+ Amount: $750m

Household International's acquisition by HSBC and Vodafone's strong rise in first half core earnings boosted credit markets in the US and Europe, leaving the new issue sector in its best shape for several weeks. Deals by Novartis in euros, Diageo in dollars and HBOS in sterling were the highlights of the week. Novartis' Eu1bn five year bond sold out in a morning and tightened to trade flat to Bunds as Swiss investors clamoured for paper.

Rating: Aaa/AAA/AAA Amount: A$30m

The sub-underwriting phase of the Eu825m debt supporting the secondary buy-out of consumer paper components maker Xerium, lead managed by CIBC and Morgan Stanley, should close next week. Banks were asked to come into this phase with a ticket of Eu100m. HypoVereinsbank and ING are thought to have joined the deal already, while other institutions are waiting to hear back from their credit committees.

Citigroup/SSSB will sign banks into the £350m five year letter of credit facility for XL Capital today (Friday). Banks in the company's existing £324m facility have been asked to recommit to the deal for a 3bp renewal fee or 5bp for increased exposure.

Barclays and Citigroup/SSSB will sign banks into the £440m loan for ACE Europe on Monday. Proceeds will refinance a £440m loan signed in November 2001. Banks in that facility were asked to recommit for 2bp and will receive 5bp if they increase the size of their previous commitment.

Excel Airways, the UK charter airline, is preparing a flotation that will value the company in excess of £85m. The company, which is majority owned by Greek tour operator Libra Holidays, will be introduced to London's AIM market by Brewin Dolphin Securities. No shares will be sold on to the market, although Libra Holidays plans to sell part of its stake in the near future.

Amount: M$1bn Rating: Malaysian Rating Corporation

American Electric Power has put its name to a $3.5bn EuroCP programme. Goldman Sachs has scooped the arrangership and is joined on the dealer panel by Citigroup and Lehman Brothers. Many US-based borrowers have traditionally funded in the US CP market but are beginning to diversify and look at EuroCP. A number of new programmes have been launched globally and the level of maturity in the EuroCP market is grabbing the attention of US issuers. Three years ago 90% of the overall CP business was done in the US, but now 20%-30% is closed in Europe.

Rating: A1/A+ Amount: £25m (fungible with three issues totalling £250m first launched 19/10/01)

Amount: $70m, ¥2.44bn Maturity: November 2007