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Rating: Aaa/AAA Amount: Eu250m obligations foncières (fungible with Eu1bn issue launched 14/05/02)

Eneco, the Dutch utility, has signed a Eu500m EuroCP programme and is also hoping to sign a EuroMTN facility by the end of 2002. The signing signals Eneco's entrance into the international debt capital markets, having previously only operated a domestic CP shelf. Rinus Van Tol, corporate treasurer at Eneco, told EuroWeek that recent changes in the Dutch money markets precipitated the signing. "The introduction of the euro has opened up many new possibilities for us outside of the Netherlands as we no longer have any FX risk," he said.

Ericsson, the Swedish telecoms equipment company, gave a clear indication of how desperate it is for cash yesterday (Thursday) when it offloaded a Eu300m stake in Infineon at close to historic lows.

Amount: Sfr150m Maturity: September 30, 2014

Mandated arranger Citigroup/SSSB signed banks into the $75m three year facility for JSC Kazakhmys on Wednesday. The deal was oversubscribed by some 75% but has not been increased. Deutsche Bank, SG, ING, Natexis Banques Populaires, KBC and Crédit Lyonnais joined the facility.

KorAm Bank has boosted South Korea's presence in the EuroMTN market with the signing of its $1bn global MTN programme. It is the first borrower to sign from South Korea since 2000 and becomes the 18th South Korean name in the market. Hana Bank, the last South Korean borrower to sign, set up its $1.5bn global MTN programme via Merrill Lynch in August 2000. The borrower has made just one trade off its programme - a $50m note that goes out to December 12, 2011 and pays a semi-annual coupon of 6.8%.

Guarantor: Federal Republic of Germany Rating: Aaa/AAA/AAA

Rating: Aaa/AAA/AAA Amount: Eu100m

Rating: Aaa/AAA/AAA Amount: A$77m

The female MTN community is weeping. HSBC's head honcho and self-proclaimed king of the Hong Kong markets, Fergus Kiely, has given up on his days as a bachelor and has whisked his bride-to-be off to Cyprus to tie the knot.

Lending banks are dominating the European convertibles market, as the product becomes more closely aligned with credit relationships. Banks with active lending businesses such as SG, JP Morgan and Citigroup/SSSB are topping the league tables in 2002 as corporates reward those institutions that provide credit. At the same time, pure play investment banks such as Merrill Lynch and UBS Warburg are struggling to find business.