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Rating: AAA (Fitch) Amount: Eu1.5bn Landesschatzanweisung series 103

Rating: Aa1/AA+/AAA Tranche 1: £50m

Rating: AA/AAA Amount: Eu500m Landesschatzanweisung

The syndication of the Eu40m one year bullet facility for Parex Bank is due to be closed next week. The deal is oversubscribed.

Salomon Smith Barney may have built up a respectable MTN trading desk with a team of trusty dealers who appear never to want to leave the bank. But when it comes to the Citigroup building, one of the tallest towers in Canary Wharf, Leak can only say "They don't build 'em like they used to." When Peter Jackson, Chris Cox and the MTN team first moved down to Canary Wharf a couple of years ago, the building, which has a centre court surrounded by glass panels up to the top floors, famously shed a few panes of glass, luckily with no casualties. And last Wednesday another sheet of glass fell from the roof, again missing any lingering bankers in the foyer below. Bankers in the building were issued with hard hats, so that they could continue to smoke in the foyer in safety. At last the MTN desk's Viking hats from the Islandsbanki Thorrablot party came in handy. There is plenty of wheeling and dealing going on in the market at the moment and not all of it is of the MTN variety. Several market moves may be imminent. JPMorgan's ex-co head of the MTN trading desk, the enigmatic Garrath Fulford, is making a reappearance, although not in the MTN market. Leak always suspected that you would not be able to keep Garrath away from the hedonistic world of banking for long.

Amount: Eu350m Issue price: 100.00

DZ Bank has signed banks into a £150m three year revolving credit facility for Liverpool Victoria Banking Services Ltd. Barclays Bank, Danske Bank, DZ Bank, HSBC, and Lloyds TSB and the Royal Bank of Scotland have joined the club loan.

Commercial close was eventually reached this week on the contracts for the London Underground Public-Private Partnership (PPP). The sale and purchase agreements for the infrastructure companies for Metronet move the PPP one stage forward. However, financial close is not expected for some time.

Arrangers Barclays, BNP Paribas, Citigroup/SSSB and JP Morgan have signed banks into the £900m revolver for music company EMI. Joining the deal as arrangers are HSBC and TD Securities. ING Bank is a senior co-arranger with Standard Chartered as a co-arranger. Bank of Scotland, Nordea, UBS Warburg and CIC are lead managers.

Emirates Bank International is to sign a Euro-MTN programme via Deutsche Bank and Emirates Financial Services. The dealer panel has not yet been finalized but the dealers are rumoured to include the arrangers, CSFB, HSBC, JPMorgan and Morgan Stanley.

Barclays Capital, Deutsche Bank (sole bookrunner), Lehman Brothers and Royal Bank of Scotland launched the £1.28bn acquisition facility for Enterprise Inns into syndication yesterday (Thursday). The £875m acquisition of an estate of 1,860 pubs from Laurel will make Enterprise the biggest pub landlord in the UK.

Private client investment manager Rathbones launched the Rathbone Ethical Bond Fund this week, only the third fixed income ethical retail fund available to buyers in the UK. The fund offers a risk diversified alternative to Gilts, and will be welcomed by UK investors who have chosen not to invest in government bonds for ethical reasons. Although it is a growing field, the fund management industry has concentrated its ethical and socially responsible investment activities on equities.