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Rating: Aa1 Amount: Sfr50m

Hutchison Whampoa pulled its planned multi-tranche Eu1.5bn benchmark this week, becoming the most high profile casualty of the European market meltdown that has laid waste to the corporate Eurobond pipeline.

Amount: Eu3bn Rating: Moody's/Fitch

Unlisted Italian energy group Italenergia successfully raised Eu1bn through a zero coupon Eu1.272bn five year issue on Wednesday, the first liquid zero coupon corporate bond in the European market. However, to launch the innovative issue into the turbulent market, the borrower had to revise pricing by 20bp. Launched via IEB Finance and guaranteed by Aaa/AA/AAA Electricité de France (EDF), the deal completes Eu2bn of debt issues Italenergia has launched as part of its Eu4bn financial restructuring, ahead of its merger with power unit Edison in November. The first part, a Eu830m domestic retail targeted issue, was completed in August.

Rating: Aa2/AA-/AA Amount: Nkr500m (fungible with Nkr500m issue launched 27/08/02)

Agence France Trésor (AFT) this week announced that its second OAT linked to eurozone inflation (OATei) will be a 30 year transaction. The deal will be launched soon via Barclays Capital, BNP Paribas, Morgan Stanley and Natexis Banques Populaires. The Trésor awarded the four banks a working mandate for the new OATei in late July. Since then, the banks and the Trésor have held discussions with other banks and investors over which maturity to choose from a 15-30 year range.

Bidding banks have been given an extra five days to submit their financing proposals for the $1.7bn Aluminium Bahrain BSC (Alba) phase II expansion project. The deadline is now October 15. The timetable following this is tight with a shortlist due to be announced by October 18 and syndication scheduled to be closed before year end.

In response to the damaging revelations that investment banking mandates have been linked to research reports, the US Securities and Exchange Commission may soon propose to spilt research departments from investment banking. If approved the move will have wide ranging effects on global ECM practices. The measure will be applauded by a majority of companies and the general public who are disillusioned with the research from investment banks since the allegations of tainted research were first raised.

Is Merrill Lynch cutting back in Europe? Might the firm beat a total retreat back to the US and return to its roots? Could the firm, which once had the Euromarkets by the short and crinklies, be packing some if its bags? Of course this is total nonsense. Over many years we have read some hare-brained stories, but this one had to take the biscuit. However, there it was in the second section of the worthy, but normally reliable, old "Pink Un" with the less than inspirational title, "Merrill's Thundering Herd pulls back from the brink".

Barclays (bookrunner), HSBC (bookrunner) and JP Morgan (facility) have been mandated by aviation group BBA Group plc to arrange a £300m five year revolving credit. The loan offers a margin of 57.5bp over Libor and a 28.75bp commitment fee. Utilisation fees of 5bp are charged for drawings over 33% and 10bp for over 66% drawn.

French reinsurance group Scor this week announced plans for the launch of a Eu400m capital increase. But its decision to join the ranks of European insurers looking to raise money on the equity markets in the coming months was met with some surprise by ECM bankers. "Of all the rights issues proposed so far, this one looks the shakiest," said one ECM head in London. Scor's share price has fallen by nearly 80% this year.