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The Region of Lombardy achieved its ambition to create a benchmark in the 30 year sector of the global dollar market this week with a $1bn inaugural bond issue lead managed by Merrill Lynch and UBS Warburg. Despite being marketed in a period of extreme volatility, Lombardy's impressive credentials - it is the richest region in Italy, contributes over 20% of the country's GDP and is rated a notch higher than the sovereign - enabled the borrower to penetrate the US investor base in style. The order book was 1-1/2 times oversubscribed, allowing the transaction to be priced at the tight end of the range at 73bp over Treasuries, or 30bp over mid-swaps.

Mantaray Partners, the debt markets headhunting boutique, is being sued by a former employee, Aemilia Lovatt, who left the firm last year. The claim, which is believed to be for up to £200,000, will be heard at an employment tribunal in London next week.

Mantaray Partners, the debt markets headhunting boutique, is being sued by a former employee, Aemilia Lovatt, who left the firm last year. The claim, which is believed to be for up to £200,000, will be heard at an employment tribunal in London next week.

Compiled by Holger Kron Deutsche Bank, Frankfurt

Compiled by Holger Kron Deutsche Bank, Frankfurt

Compiled by Holger Kron Deutsche Bank, Frankfurt

Euro volume remained around the $2.5bn mark, but issuance was up from 55 to 76 trades on last week's level. SNS bank closed a Eu250m six year trade with an annual coupon of 3.7%. Alongside this, the borrower closed a Eu23m trade and a Eu10m note. Fellow Dutch issuer, TER Finance Company, closed a Eu146m transaction from its 27-issuer multiple SPV programme.

The US holiday on Monday did not affect trading. A busy week saw 88 notes issued for almost $1.7bn. The four private corporate notes that were issued amounted to $238m. General Electric Capital issued a Eu100m three year trade via Credit Suisse First Boston. The note pays a coupon of 25bp over three month Libor. Siemens came to market with a Eu28m one year note. The coupon payment is 1.75%.

Trading in the EuroMTN market hit new heights this week with over $7.3bn being closed off 317 trades. Over 100 deals went through in yen despite a holiday in Japan on Monday. Financial repackaged entities were the biggest issuers outside of the banks. Deutsche Bank was active through its Earls vehicles, including a ¥4bn issue through Earls Seven. The note settles on December 5 2005. UBS Warburg matched that volume with a ¥4bn note that matures on September 29 2006.

Compiled by Richard Favis RBC Capital Markets

Amount: Eu500m Rating: Aaa/AAA/AAA

Merrill Lynch has let go of its European head of derivatives, Kevin Chattwell. The move was understood to come as part of a flattening of Merrill Lynch's top-heavy European management structure.