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  • The Bank of China float launched this week looks set to become Hong Kong's largest IPO since 2000. Bank of China plans to raise up to $3.2bn from the sale of 2.3bn shares (plus a 345m greenshoe) in Bank of China (Hong Kong) at a price of between HK$6.93 and HK$9.50 a share. The deal is set to be priced on July 22, with trading to begin in Hong Kong on July 25.
  • Rating: Aaa/AAA/AAA Amount: $100m
  • Ailing Dutch supermarkets group Laurus announced this week that it had secured Eu400m of financing through its fully underwritten rights issue. The move was greeted by a removal from Euronext's "penalty bench" as the company's shareholder equity turned positive.
  • Rating: Aa1/AAA Tranche 1: Eu100m
  • Stephanie Sfakianos has resurfaced. The originator extraordinaire, who left Deutsche Bank in a puff of smoke at the beginning of the year, has re-emerged at BNP Paribas to head up the bank's CP origination desk. And Leak suspects BNP's Daniel Cogoi could do with the company. He was spotted staring longingly at the bottom of an empty champagne glass at the bank's Royal Academy press party last week; a sure sign of a man in desperate need of a drinking partner.
  • David Prosser, chief executive of the UK life assurance company Legal & General, this week called on the Financial Services Authority (FSA) to look into the activities of hedge funds. His main concerns centre on the damaging effects on the equity markets of short selling by hedge funds.
  • Invitations were sent out this week to banks to join the Eu130m seven year facility for the Municipality of Budapest. The facility carries a margin of 25bp-30bp over Euribor.
  • Arrangers ANZ Investment Bank, Bank of Tokyo-Mitsubishi, Mizuho, SG Asia, Standard Chartered and Sumitomo Mitsui Banking Corp are finalising details of an $820m financing for Malaysian International Shipping Corp. Proceeds are to finance the purchase of liquefied natural gas tankers.
  • Compiled by Holger Kron Deutsche Bank, Frankfurt
  • Compiled by Holger Kron Deutsche Bank, Frankfurt
  • Compiled by Holger Kron Deutsche Bank, Frankfurt
  • UK borrowers were particularly busy in the dollar sector trading 10 notes, although volumes were small, totalling just $102.49m of the $1.66bn done. HSBC and Lloyds TSB closed three trades each. Citigroup/SSSB led a five year $10m deal for Abbey National Treasury Services.