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Merrill Lynch and Dexia Crediop have secured the arranger mandate for the Province of Milan's EuroMTN programme. The borrower is still putting the finishing touches to the facility, but the signing is expected shortly and will highlight the growing attraction of the international debt capital markets to Italian borrowers.

Deutsche Bank and Crédit Lyonnais are planning to launch the debt facilities backing the PAI-led buy-out of pasta company Lustucru into syndication in late September or early October. A circa Eu300m loan will back PAI's Eu500m acquisition.

Italy effectively re-opened the sovereign and supranational market this week with a highly successful $3bn five year transaction, the largest new issue in its asset class since the EIB’s dollar benchmark in May.

Italy effectively re-opened the sovereign and supranational market this week with a highly successful $3bn five year transaction, the largest new issue in its asset class since the EIB’s dollar benchmark in May.

Arrangers Credit Suisse First Boston and JP Morgan have received six commitments from banks invited to sub-underwrite the debt facilities backing the £295m of senior debt backing the Clayton, Dubilier & Rice buy-out of frozen food company Brake Bros. Three outstanding banks have until Monday to submit late commitments. A number of funds have also joined the deal.

Just one private utility was active in the EuroMTN market this week. But SNCF's two £150m deals made the utility sector the third biggest by volume. Both of the trades go out to March 2027. Financial repackaged entities closed 11 deals this week. Nomura's SPV Rosetta issued two ¥1.2m notes: one maturing on March 22, 2005 and paying a coupon of 2%; the other settling in October 2007. Citigroup/SSSB traded a Eu10m two year note through its Structured Investments Corporation, while JP Morgan's Indus Company closed a ¥2bn trade off its 27-strong multiple issuer programme. And Signum, a Goldman Sachs SPV, issued a S$10m January 25, 2011 trade. The note pays a coupon of 5%.