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Rating: Aaa/AAA Amount: £100m (fungible with four issues totaling £525m first launched 07/04/00)

Rating: Aaa/AAA Amount: Nkr400m (fungible with Nkr400m issue launched 17/10/01)

Compiled by Stephanie Weedon, HSBC Bank plc, London Tel: +44 20 7336 3525

Rating: Aaa/AAA Amount: $50m

Hungarian Land Credit and Mortgage Bank (FHB) is to put its name to a EuroMTN programme of between Eu750m and Eu1bn. The arranger has not been chosen but yesterday (Thursday) was the deadline for pitches. Dealers with strong European distribution capabilities will be favoured. The issuer plans to have the programme up and running before the end of the year and the first note from the facility, which will be denominated in euros, will be launched in the first quarter of 2003. The Eu100m note will ideally go out to 10 years. The arranger will be joined on the dealer panel by another five or six houses.

Borrowers in the Nordic region continue to attract international investors in increasing numbers, with two new mandates awarded this week. The first was the mandate to arrange the $400m five year facility for Finland's Fingrid, which has been awarded to Barclays, JP Morgan and Nordea. The mandate letter was signed yesterday (Thursday).

The mandate for the Eu2bn five year facility for Stora Enso has been awarded to joint mandated arrangers ABN Amro, Barclays Bank, Crédit Agricole Indosuez and Nordea which will launch the deal into syndication next week. The loan will carry a margin of between 40bp-45bp over Libor.

Bank of Tokyo-Mitsubishi has arranged a Eu75m secured term loan for Air France. The final maturity date will be 12 years after the drawdown date.

Ford Motor Credit has cut its EuroMTN programme to Eu10bn from Eu15bn. Ford Credit de Mexico has been dropped from the multiple issuer programme, leaving Ford Motor Credit, Ford Credit Canada, Ford Credit Australia and Primus Financial Services as the issuing entities. Shell Finance has increased the size of its debt securities programme to $6bn from $4bn.

Rating: Aaa/AAA Amount: $1bn (fungible with $2bn issue launched 03/10/02)

Guarantor: General Electric Capital Corp Rating: Aaa/AAA

Rating: Aaa/AAA/AAA Amount: $100m