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Amount: Eu75m subordinated debt Maturity: August 6, 2012

Enagas fell victim to the WorldCom fraud revelations when its Eu917m IPO crashed 7.5% in the first three minutes of trading on Wednesday. Shares in the Spanish gas distributor started trading at 11am London time, as markets were digesting the implications of the $3.8bn hole in WorldCom's accounts.

In another disastrous week for Vivendi Universal, the ailing media group suffered at the hands of a confused investor base as it attempted to sell a Eu1.5bn stake in its utilities subsidiary, Vivendi Environnement, on Monday. The market had been expecting the deal for some time. The French media group has been toiling under a huge debt burden, which has weighed down its stock price. And it had made clear that it needed to reduce its position in Vivendi Environnement to below 50% to avoid having its water subsidiary's debt consolidated on its own balance sheet.

Enagas fell victim to the WorldCom fraud revelations when its Eu917m IPO crashed 7.5% in the first three minutes of trading on Wednesday. Shares in the Spanish gas distributor started trading at 11am London time, as markets were digesting the implications of the $3.8bn hole in WorldCom's accounts.

Bank Austria has boosted its potential for finding investors by adding five dealers to its euro2 billion ($1.96 billion) Euro-MTN programme. They are ABN Amro, BBVA, Deutsche Bank, Fortis Bank and RBC Capital Markets. Vodafone Group has increased the debt capacity off its £2 billion ($3.02 billion) Euro-CP programme to £5 billion. Banca Popolare dell' Emilia Romagna has increased the debt ceiling and redenominated its $1 billion Euro-MTN programme. The new amount is for euro3 billion ($2.94 billion) and Dexia Capital Markets and EMRO Finance Ireland have been added as dealers. KeyCorp has dropped HSBC as a dealer off its $10 billion Euro-MTN programme. Dexia Municipal Agency has increased the debt size of its euro25 billion ($24.49 billion) Euro-MTN programme to euro35 billion. Credit Suisse First Boston has been dropped as a dealer while Dresdner Kleinwort Wasserstein and UBS Warburg are added as dealers. Dexia Credit Local has dropped Credit Suisse First Boston as a dealer from its euro30 billion ($29.39 billion) Euro-MTN programme. UBS Warburg has been added as a dealer. ABN Amro Bouwfonds Nederlandse Gemeenten has increased the debt ceiling off its euro10 billion ($9.80 billion) secured debt issuance programme to euro15 billion. New South Wales Treasury Corp has added two dealers to its $10 billion multi currency Euro-MTN programme. They are HSBC and Mizuho. Swiss Reinsurance Company has added two dealers to the dealer panel off its $2 billion debt issuance programme. They are Swiss Re Capital Markets Corp and Swiss Re Capital Markets. The issuer Bank of Scotland Treasury Services, which has a $40 billion programme for the issuance of debt instruments, has changed its name to HBOS Treasury Services. The name change came into effect on June 14. Rhein-Main Securitisation has increased the limit off its euro2.5 billion ($2.43 billion) multi currency asset-backed CP programme to euro3.5 billion. Arabella Funding, the asset-backed euro5 billion ($4.90 billion) Euro-CP programme, has added Citibank as a dealer. The facility already has Barclays Capital, HypoVereinsbank, CSFB and Goldman Sachs on the dealer panel.

WorldCom has been in the high yield indices for less than a month, and this week's spiral left specialist high yield investors speechless. From 40 bid and 39.5 bid on its respective euro and sterling 08 issues, WorldCom's bonds were knocked down to 10 bid yesterday (Thursday), effectively trading flat of an accrued coupon basis. Because the annual coupons were paid on May 15, the bonds will not leave the index until after Standard & Poor's formally declares a D rating.

Compiled by Stephanie Weedon, HSBC Bank plc, London Tel: +44 20 7336 3525

Mandated arrangers Nordea (bookrunner), Bank of Tokyo-Mitsubishi (facility agent) and Danske Bank (documentation) yesterday (Thursday) signed banks into the Eu150m multi-currency revolver for steel company Rautaruukki. The deal was closed oversubscribed and was increased to Eu245m.

Rating: Aaa/AAA Amount: $500m

KBC Bank (joint bookrunner) and WestLB (joint bookrunner) on Monday signed banks into a Eu75m three year facility for European broker Exane. LB Kiel has joined the deal as an arranger and Landesbank Saar Girozentrale has committed as a co-arranger.

Amount: Eu600m Legal maturity: December 18, 2033

Amount: Eu600m Rating: Fitch