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After two years of hesitation Kazkommertsbank (KKB) this week issued a $150m five year bond via JP Morgan and ABN Amro. The Kazakh bank's first Eurobond offers an eye-catching 10.125% coupon, and has given some indication of the international pricing of Kazakh risk after Kazakhoil pulled an issue last month. KKB had been eyeing the Eurobond market since well before the redemption of its only other international bond, a $100m three year issue, in May last year. Its decision to launch came as the rejuvenated oil price removed any possibility of sovereign supply from Kazakhstan this year.

Citigroup/SSB and Korea Development Bank have joined forces to launch a $200m three year loan-style FRN for LG Electronics Co. Sub-underwriters have been invited to join the facility at a margin of 66bp over Libor on one of two levels.

Rating: Aaa/AAA/AAA Amount: Eu100m Landesschatzanweisung series 95

Rating: Aaa/AAA (Moody's/Fitch) Amount: Eu1.5bn global, Öffentlicher Pfandbrief series 660

The chaps at SNS bank are preparing for another day spent racing around the country roads outside Amsterdam in their vintage cars. The day will take place in mid-June and most of the dealers have been invited. After the rally car racing, SNS has lots more in store for its guests, but Bas Snijders and Bart Toering, on the debt issuing desk, are not giving away any secrets about the day's line up. But the invitation promises that it will be a late night. Dresdner's Michael Stump has been lying low for the past few months, but Leak can reveal that he is a man with a mission. The mission has been to shed a few pounds and he has been doing remarkably well. If he manages another two and a half pounds by May, he could stand to win a £

Guarantor: Land Baden-Württemberg Rating: Aaa/AAA

Wesley Paul, the former global head of investments at JP Morgan Asset Management, has launched a new hedge fund called Edgeworth Capital. Lehman Brothers, which is trying to develop its alternative asset management business, is the majority owner of the fund, which aims to take advantage of explosive growth in the sector.

EU convergence candidates Romania and Lithuania are set to complete another two blowout euro transactions, just as questions are beginning to be raised about the sustainability of the whole EU convergence story. "It is getting like the Neuer Markt bubble," said one German investor, who admitted that he had placed a heavily inflated order for Romania just to claim a small allocation. "Like then, everyone is saying yes and demanding as much as possible, but the size of the orders cannot possibly represent the real demand."

A mandate is imminent for the $600m refinancing facility for Maxis Holdings Sdn Bhd. ABN Amro is widely tipped to secure the arranger role as it played this part in the original $735m fundraising in November last year. That transaction was a bridge facility that featured a step-up margin over time. The borrower wants to refinance that deal before the margin rises to 250bp from 200bp after the first six months.

Amount: Eu450m Issue price:100.00

RWE's Eu6.5bn combined euro and sterling issue this week enjoyed a mixed performance as the market digested heavy corporate supply and mulled E.On's announcement that it will be launching a similar issue in the coming weeks. Fellow utility E.On is believed to have planned a roadshow with its bankers ABN Amro, Barclays Capital, Dresdner Kleinwort Wasserstein and Goldman Sachs for the week beginning May 6.

Guarantor: XL Capital Assurance Amount: $53.4m