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The postbag is beginning to bulge with Christmas party invites, but it was the less exciting occasion of the Websters global MTN market conference that bought the market's luminaries together at London's Chancery Court Hotel this week. Billed as the biggest MTN event of the year, Leak wonders why the attendance was less than half that of Euromoney's annual MTN conference in April. Still, it was nice to see some familiar faces, including Landsvirkjun's Stefan Petursson and Islandsbanki's Bill Symington who were spotted exchanging pleasantries over coffee, which was obviously more appealing than the session on French MTN law.

Syndication of the $750m one year repo facility for Lehman Brothers has been closed 80% oversubscribed. Some 21 banks have joined the deal. Citigroup/SSSB, WestLB and Bank of New York are arrangers.

Compiled by Holger Kron Deutsche Bank, Frankfurt

Danske Bank (agent), HSBC (joint bookrunner), Lloyds TSB (joint bookrunner) and Royal Bank of Scotland (documentation) are widely tipped to launch syndication of the £1.5bn revolving credit facility for Scottish & Newcastle today (Friday). EuroWeek understands that banks targeted in syndication can expect to receive invitations for tickets of £100m, £75m and £50m.

Compiled by Holger Kron Deutsche Bank, Frankfurt

Compiled by Holger Kron Deutsche Bank, Frankfurt

The demand for dollars dipped from last week's high level, but over 100 trades were still closed. And volumes topped $2.5bn with supranationals trading in large sizes. International Finance Corp issued two $200m trades to boost overall volumes. The trades mature in November 2012 and November 2014 respectively. Nordic Investment Bank closed an $83.7m 30 year note via Citigroup/SSSB.

Private corporates traded $572.83m from 13 issues, making them the fourth biggest issuer type this week by volume. Yen was the choice of many private corporates. Orix USA issued a ¥2bn two year note via Credit Suisse First Boston. The Baa3 rated trade carries an annual coupon of 0.565%. Sumitomo Corp Capital Europe closed a ¥1bn trade. The FX/FRN hybrid pays interest of 1.5% per annum until November 8, 2003, and thereafter interest is linked to the constant maturity swap rate. Daiwa Securities SMBC Europe was the lead manager.

The biggest volumes in the EuroMTN market this week were in the one and three year area. Over $1.85bn was closed in this maturity range from 43 trades. German borrowers were responsible for over $1bn in this term. Sachsen LB Europe's Eu250m trade was the largest deal. The note was led by JP Morgan and settles on May 14, 2004. Sachsen LB Europe also closed a Eu100m note that matures on the same date.

Triple-A borrowers cleaned up this week launching over 45% of total issuance. The dollar, euro and yen proved the most popular currencies with high quality credits, but other currencies were also tapped. The World Bank tapped the Australian dollar sector twice among its 10 trades this week. The largest deal was a A$150m issue that has a three year tenor. The note pays a first coupon of 4.23% and a final coupon of 4.7%, both of which are paid on a semi-annual basis. Tokyo-Mitsubishi International was the bookrunner.