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Mandated arrangers KBC, Rand Merchant Bank and Standard Bank will sign banks into the $210m four year facility for the Société Nationale des Pétroles du Congo (SNPC) by the end of July. Documentation is being reviewed and final responses are due in by the end of next week.

EuroMTN issuance broken down by issuer type maintains the trend seen over the first half of the year. Private banks issued more than double the number of trades than any other sector, and included some of the biggest deals.

Issuers piled into the 10 year and over sector with a total of 110 deals raising $1.39bn. Chelsea Building Society was one of the biggest issuers - it announced a £100m 15 year trade via UBS Warburg with a call at year 10. BayernLB also went for big volume and for over 10 years. It issued a Eu100m trade that closes in July 2014. It pays an annual coupon of 6.0%.

There was little to choose between the double-A and single-A rating brackets in terms of volume, but the number of trades each sector announced contrasted starkly. Single-As did 38 deals for their $1.95bn-worth, while double-As announced 101 deals for their $2.06bn-worth.

UK luxury goods company Burberry yesterday (Thursday) bucked the trend of failed IPOs by successfully pricing its £258m offer at the bottom of the 230p-290p range.

UK luxury goods company Burberry yesterday (Thursday) bucked the trend of failed IPOs by successfully pricing its £258m offer at the bottom of the 230p-290p range.

A re the agonies of Credit Suisse ever going to end? The unlikely Lukas Mühlemann has used up yet another of his nine lives by giving up his title of chairman, but he is managing to stay perched on the CEO's seat, and frustrating the punters who have bet millions of Swiss francs on Lukie being toast by the end of August. But at least it's a step in the right direction. Mühlemann's card has been marked, and no one within the CS Group takes him seriously - half of the money betting on his imminent departure has been placed by CS and CSFB insiders, which indicates their loyalty.

CDC IXIS Capital Markets last Friday launched the second toll road project to come directly to the public Eurobond market. The Eu460.5m transaction will help finance the construction of the A28 motorway in France. European governments are increasingly turning to public-private partnerships to finance a growing demand for infrastructure expansion. The construction, maintenance and operation of this 125km section of a trans-European north-south motorway that connects Iberia to northern Europe was awarded under a 65 year concession.

Rating: Baa1 Amount: £100m lower tier two capital

GMAC Residential Funding Corporation (RFC) brought its securitisation expertise to Europe for the first time last Friday (July 5) with a residential mortgage deal from its Dutch subsidiary. The group began offering Dutch loans last year. "The Netherlands is our first point of entry into the European market and we are looking to expand," said Ferdinand Veenman, executive director at GMAC Hypotheken in the Hague. "We were very pleased with the transaction considering that we are a first-time issuer and have only been in the mortgage market since January 2001".

CDC IXIS Capital Markets last Friday launched the second toll road project to come directly to the public Eurobond market. The Eu460.5m transaction will help finance the construction of the A28 motorway in France. European governments are increasingly turning to public-private partnerships to finance a growing demand for infrastructure expansion. The construction, maintenance and operation of this 125km section of a trans-European north-south motorway that connects Iberia to northern Europe was awarded under a 65 year concession.

Morgan Stanley this week completed the pricing and tranching of its latest ELOC deal, a transaction that was expected to bring hope to the subdued market of hotel securitisations. HOTELoC plc offered rare exposure to the UK hotel sector via a single commercial mortgage and incorporated a dollar tranche. But despite the scarcity of hotel property transactions, the notes are reported not to have been fully sold at pricing. Morgan Stanley would not comment this week as to whether the bonds were all sold.