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Bank of Scotland has been signed up to arrange the debt facilities backing the £57m buy-out of Chelmsford-based Marconi Applied Technologies by 3i. The UK-domiciled business has operations in the US, Germany and France.

Compiled by Holger Kron Deutsche Bank, Frankfurt

Compiled by Holger Kron Deutsche Bank, Frankfurt

German issuers was dominant in the euro sector, launching 24 of the 61 trades completed. German trades also represented over half of the week's total euro volume. Landesbank Sachsen traded two Eu100m notes, one through its issuer head, Sachsen LB Europe. Landesbank Sachsen's deal goes out to 2007 and was led by HSBC. Lehman Brothers was the bookrunner for Sachsen LB Europe's note.

Compiled by Holger Kron Deutsche Bank, Frankfurt

Although UK borrowers were again busy in dollars this week, it was supranationals that closed the most trades, largely because of World Bank's 11 deals. The supra's largest trade was a $100m three year note that pays an annual coupon of 3.66%.

Yen volumes were high this week as over ¥1.5bn was traded off 134 deals. Deutsche Bank placed 10 trades through its financial repackaged entity, Earls Four. The maturities on the notes ranged from October 2003 to June 2011. Daiwa Securities SMBC issued 10 transactions. These included a ¥1bn trade that reaches out to 2032. The note carries a coupon of 2.25%. Kommunalbanken kept up its strong issuance in the currency, closing six deals, the two largest for ¥1.5bn each. Fellow Norwegian borrower, Eksportfinans, issued four trades for ¥1.2bn combined. The largest was a ¥400m FX/currency linked hybrid, which was done as part of a tranche with a ¥200m issue. Dutch issuers were also busy. Rabobank Nederland closed three ¥1bn deals, one via Goldman Sachs. Nederlandse Waterschapsbank also closed three deals - each for ¥500m.

And while on the subject of Goldman Sachs, the same CSFB banker told us that the middle management ranks of Goldie are becoming increasingly upset that many of the old former partners are simply no longer pulling their weight. They have, of course, become seriously rich, but the middle-rankers are not impressed to see them sitting around, counting their money and scratching their duffs when they should be out drumming up business. Surely this can't be true? Even those Goldman folk with huge stashes are usually hungry for more. Making money at Goldman Sachs is almost a religion, which is why they used to be known as the Moonies. We have always rated Goldman's CEO, Henry Paulson, as one of the best managers on Wall Street and a leader who would never tolerate slothful without kicking some butt. However, if you have any stories about former Goldman partners falling asleep at their desks or taking even longer holidays than ourselves, please let us know.

Compiled by Richard Favis, RBC Capital Markets, Johannesburg Tel: +27 11 784 5065

Deutsche Bank has hired two managing directors from JP Morgan for its first dedicated investment banking team focusing on the insurance and asset management industry in the US. David Kimmel is named managing director and head of insurance and asset management investment banking. He was JP Morgan's head of insurance investment banking for the Americas and co-head of global insurance. His JP Morgan teammate Chris Young joins, also at managing director level, as a senior member of the US insurance team.

Morgan Stanley has become the first bulge bracket bank to merge its debt and equity capital markets businesses, in an attempt to provide a better service for clients. Jon Anda and Walid Chammah will be co-heads of the new global capital markets (GCM) business, with Franck Petitgas promoted to run European GCM. Jon Fouts will be head of Asia Pacific GCM, with Fusao Hara and Christopher Mothersill co-heading GCM in Japan.

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