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Federal Home Loan Banks (FHLB) surprised the sterling market this week with a £429.7m ($664.7m) three year bond issue, its first non-dollar offering in four years. The deal, lead managed by Lehman Brothers, was issued at par to yield 4.355% and was launched on the back of reverse enquiry.

After a weekend of working on valuations for Vivendi Universal's (VU) publishing assets the private equity consortia left in the auction for the businesses were dealt a blow when VU announced on Wednesday that it had chosen trade buyer Lagardère as its preferred bidder. EuroWeek understands that the PAI-led consortium, which included KKR, Apax Partners, Blackstone and Thomas Lee, backed by underwritten bank debt from CIBC, Crédit Agricole Indosuez, Goldman Sachs and Lehman Brothers was second in the running.

Sex in the City? Surely not, but even we puritanical Scottish Presbyterians have been to see the blue plaque on the old trading floor of Kleinwort Benson Securities that commemorates steamy hanky-panky many years ago. Also, with so many young bankers staring at silent telephones and wondering whether they will have a job in the New Year, it isn't at all surprising that inter-office thoughts turn to the birds and the bees.

The Eurodollar sector took centre stage this week in the international bond markets as a quartet of triple-A rated issuers took advantage of the sell-off in the US Treasury market and the consequent increase in investor demand for top quality dollar product. And the market expects to see more triple-A candidates in the coming week.

Corporación Andina de Fomento (CAF), the Caracas-based multilateral, sneaked into the Yankee market at the beginning of this week to issue $85m of 20 year bonds to two US investors. Although executed on a reverse enquiry basis by Merrill Lynch, the deal could mark a last spurt of Latin bond issuance over the next four weeks before the market wraps up for the year.

Amount: Eu150m Maturity: November 7, 2005

Amount: Eu1.051bn Rating: Moody's/Fitch

Citigroup chairman Sandy Weill launched a scathing attack on an article published in The Wall Street Journal on Wednesday, which suggested that Weill could be personally charged with offences relating to conflicts of interest over the bank's research. Weill dismissed the claims as "outrageous speculation and wild inferences". The article in the WSJ was sparked by revelations from the New York state attorney general's office that it would be questioning Weill about Citigroup's research practices. The newspaper said that Weill has retained two lawyers, Lawrence Pedowitz and John Savrese from Watchell, Lipton, Rosen & Katz, to represent him in a personal probe.

aDeutsche Bank took advantage of improving equity market sentiment this week to place a 9.3% stake in Deutsche Börse, raising Eu360m. The placement, which was sold by Deutsche Bank as part of its continuing strategy of divesting non-core stakes, consisted of 10.4m shares sold at Eu34.5 apiece. The stake was the last material overhang remaining in the stock. This fact, combined with possibility of Deutsche Börse's inclusion in the Dax when membership of the benchmark German equity index is next reviewed, contributed to the deal's success.

As foretold in EuroWeek 765 Bremer Landesbank has completed the signing of its Eu5bn EuroCP programme. The facility was arranged by Norddeutsche Landesbank, giving the bank its first arrangership this year. The dealer panel consists of Citigroup/SSSB, Credit Suisse First Boston, Deutsche Bank, Goldman Sachs, ING Financial Markets and JP Morgan. The borrower is a new name in the EuroCP market and it will be hoping that the new debt shelf will increase its investor coverage. However, Matthias Pusch, deputy head of international finance at Bremer Landesbank, believes that the borrower's MTN experience will help it. He said: "We have been in the EuroMTN market for eight years and have experience of issuing in a variety of currencies. This has given us a good understanding of investors and documentation, which will help us in the EuroCP market. Our strong name will be an advantage as well. Our time in the MTN market has showed us that we are able to attract investor interest outside of Germany."

Mandated arrangers Citigroup/ SSB, JP Morgan, Danske Bank and HSBC have launched the $2bn five year facility for AP Moller Group into syndication. The deal was launched to arrangers for a take of $100m last week. Selected banks have this week been invited to join as co-arrangers for takes of $70m or as lead manager for $40m. Mandated arrangers BNP Paribas, Gjensidige Nor Merchant Bank and ING have signed banks into the Eu400m dual tranche facility for Norske Skogindustrier.