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Rating: A- Amount: £10m index linked bond (fungible with £75m issue launched 25/07/02)

JP Morgan is co-ordinating a circa Eu300m acquisition facility for television station Antena3tv. Proceeds will finance the acquisition of a local radio station. Banks are eagerly awaiting the launch of Unión Fenosa's Eu2bn refinancing - provided the deal carries the right pricing.

Arrangers Barclays Capital and Citigroup/SSSB have closed and signed the £429m project financing for the Spalding independent power project. The facility has been fully subscribed according to the arrangers, although one or two banks are still considering taking a position in the deal. The project offers margins of 135bp to 170bp. The debt is split into three portions - a £362m 19.5 year non-recourse tranche of senior debt, a £60m LC facility and a £7m working capital facility. The deal has a debt-to-equity ratio of around 80:20.

Redemption per Eu1,000 shall be calculated as follows:

CSFB and JP Morgan will sign eight banks into the £295m senior debt facilities backing the buy-out of Brake Bros from Clayton Dubilier & Rice once the institutions have been through the documentation. Four UK banks have joined with the balance made up of US and European banks. It is unlikely that the deal will be launched into a retail phase.

Supranationals closed 20 trades this week for $469.91m, with Mizuho placing many of the trades. The World Bank was active in Australian dollars, closing three trades in that currency. Two of the notes for A$20m and A$38m were led by Mizuho. The Japanese bank also placed a A$100m note for Inter-American Development Bank, which settles on September 4, 2007. Mizuho was also the bookrunner on a ¥500m trade for the EBRD. The note has a variable coupon linked to the yen/dollar exchange rate according to a knock-out formula.

The biggest volumes were done in the three to five year sector this week with $1.37bn closed from 50 trades. Banks were dominant, issuing 42 of these deals, but some other sectors were active. American Honda Finance boosted issuance by private corporates with four yen deals totalling ¥13bn. One of the notes - a ¥3bn three year trade - was led by Nomura. The same borrower also closed a $20m three year note that pays an annual coupon of 3.257%. Société Nationale des Chemins de fer Français was the sole utility to tap the three year area. The triple-A rated borrower closed a Eu43m trade that settles on September 26, 2005. The note carries a semi-annual coupon of 3.27%. The EBRD issued a A$20m three year note that pays a semi-annual coupon of 4.7%.