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Petroliam Nasional (Petronas) on Wednesday took its place in the Asian capital markets’ hall of fame by securing a highly successful jumbo $2.73bn equivalent multi-tranche global issue.

Bond investors will lose money at the longer end of the curve, according to speakers at Pimco's 2002 Secular Forum, which ended late last week. "You want to invest in intermediate maturities between two and five years, because that is where the curve rolls down and you can pick up some extra yield. At the same time, you don't suffer the price volatility of between 10 and 30 year bonds," Emanuele Ravano, executive vice president of Pimco Europe, told the forum at Pimco's Newport Beach headquarters in California.

Co-ordinators ABN Amro, BNP Paribas and SG are finalising the term sheet for Optimus Telecommunicacoes's new Eu900m 9-1/2 year dual tranche facility with a group of potential mandated lead arrangers. The facility will partly refinance a Eu400m multi-tranche loan signed in 1999 and will fund Optimus's UMTS build-out.

Rating: Aa2/AA- Amount: C$750m global bond

Rating: Aa3/AA- Amount: C$100m

Punch Taverns was forced to pull its £270m IPO on Tuesday night after investors showed little interest in the UK pubs operator. The failed flotation was a further blow to the struggling IPO market, after the poor performance of HMV Group and the reduction in share price of Alfa Laval (see separate story). Merrill Lynch was leading the Punch offer.

Punch Taverns was forced to pull its £270m IPO on Tuesday night after investors showed little interest in the UK pubs operator. The failed flotation was a further blow to the struggling IPO market, after the poor performance of HMV Group and the reduction in share price of Alfa Laval (see separate story). Merrill Lynch was leading the Punch offer.

Syndication of the $450m five year facility for the State of Qatar has been closed this week. The deal was signed on Monday after receiving a healthy oversubscription.

Rating: Aaa/AAA/AAA Amount: $250m (fungible with $250m issue launched 14/02/02)

Oil conglomerate Repsol took the Spanish market by storm yesterday when it launched the largest ever accelerated offering in the region, a Eu2bn issue in gas distributor Gas Natural. Goldman Sachs was bookrunner with BBVA and La Caixa, the Spanish banks on the offering, which bankers expect to price this morning (Friday) at a wide discount to Gas Natural's share price.

Grupo Caja Rural, the central body for Spain's savings banks, this week launched a Eu325m securitisation of prime residential mortgages originated by seven unrated banks. Lead managed by Banco Cooperativo Español, DZ Bank and SG, the deal came at the tight end of price guidance, matching previous issues such as Banco Santander Central Hispano's Hipotebansa Eu917m deal in March via Morgan Stanley.