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A second Czech koruna denominated bond in as many weeks has underscored the European Investment Bank's (EIB) plans to increase its Czech currency issuance. The EIB issued a Ck1.25bn five year bond via Deutsche Bank on Wednesday, priced at 99.66, which carried a 3.25% coupon.

CIBC, HypoVereinsbank and JP Morgan will launch the retail phase of the Eu1.225bn debt facilities for Demag Holding in early November with a bank meeting to be held in mid-November. The smaller tickets on offer will allow banks, which did not want big exposure to the ex-Siemens businesses, to join the deal with take and holds.

Housing Finance Agency (HFA), the Irish funding agency, has put its name to a Eu2bn EuroCP programme. Citigroup/SSSB has been awarded the arrangership. HFA is the first Irish issuer to come to the EuroCP market this year and the second since First Active signed its Eu750m EuroCP programme in January 2001.

The dollar-denominated debt sector revived this week with the healthiest crop of new issues seen for some time. Virtually all of it was swapped out of fixed rate, which helped to dampen swap spreads. But despite this, swaps ended the week wider than seven days ago as the undulations of the equity and Treasury markets continued to underpin levels. By the close of trading yesterday (Thursday), the five year mid-market swap rate was around 64bp and the 10 year was around 61.5bp. Spreads traded in a tight range all week.

Amount: Eu696m Legal maturity: November 15, 2033

ING found strong demand for the remaining rump from UK insurer Hiscox's £116m capital increase this week after the puzzling decision of its majority shareholder not to join in the rights issue. Chubb, the US insurance company, which had a 28% stake in the Hiscox before the issue, chose not to support the deal and has therefore seen its stake in the company fall to 18%. According to a banker, Chubb has lost out on about £15m by not supporting the issue.

Amount: Sfr300m Rating: Aaa/AAA/AAA

New World Group is looking to secure a multi-billion Hong Kong dollar bridge financing to fund the restructuring of the group. A number of lenders have been approached, including Bank of America, Development Bank of Singapore, Deutsche Bank and HSBC. New World Group this week announced a reorganisation of New World Development, New World Infrastructure and Pacific Ports. The aim is to incorporate all assets and debts of New World Services and New World Infrastructure into Pacific Ports.

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 mandate to arrange the Eu125m-Eu130m three year facility for OTP will be awarded in the next few days. Frontrunner for the role of mandated lead arranger is DZ Bank, followed by WestLB.

Following the merger of Conoco and Phillips, the new management has decided to finance the Immingham power project on balance sheet. Accordingly, the £275m 20 year project finance facility put in place by arranger RBS earlier this year will be cancelled and pre-paid. The deal proved more expensive than first planned due to the flex that was needed to help the deal clear an unenthusiastic market.

Immersat (International Mobile Satellite) could be the subject of another jumbo LBO. The UK-based satellite operator is discussing a buy-out as an alternative to an IPO.