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Demand from cash-rich asset managers in the US and Euwrope, desperate to put their money in something that offers them a yield pick-up, culminated in a flurry of issuance by emerging markets borrowers this week.

Demand from cash-rich asset managers in the US and Euwrope, desperate to put their money in something that offers them a yield pick-up, culminated in a flurry of issuance by emerging markets borrowers this week.

Arranger DBS has completed the $72.8m equivalent facility for Shanghai PanAsia-Potential, a joint venture between PanAsia Paper Holding (53%), Potential Paper Inc (32%), Shanghai Baoshan Shi DongKou Economics & Trading Co (10%) and Asia Finance and Investment Co (5%). The facility is divided between a $52.2m five year term loan and a Rmb166m one year term loan.

Rating: A3/BBB/A- Amount: Eu750m non-cumulative trust preferred securities

Coca-Cola Enterprises signed a $500 million Euro-CP programme two days ago, April 17, giving it an extra dimension to its short-term funding. The issuer already has a $2.5 billion US CP programme and the new shelf will help source additional funds from European investors. Deutsche Bank has been given the arrangership and is the only dealer on the facility. The first trade will be launched at the end of this month and although no roadshow is planned the arranger will hold one-on-one marketing sessions with investors. Outstandings off the shelf are expected to reach $300 million. Coca-Cola Amatil, the Australian arm of the Coca Cola group, has an existing $300 million Euro-CP programme that it signed in January 1993. It has no notes outstanding however, and has only made one trade this year. This facility is Deutsche Bank's fourth arrangership of 2002, which takes it to the top of the arranger league table for the year. Lehman Brothers is second with three arrangerships and Barclays Capital is third with two.

RWE will today (Friday) price its Eu6bn equivalent four tranche sterling and euro benchmark ahead of a busy few weeks of corporate supply. But bankers are surprised that RWE's deal is coming at the wide end of guidance. The five year euro is now expected to be priced in the 54bp-55bp area over mid-swaps from initial guidance of 50bp-55bp, and the 10 year in the 74bp-75bp area, from 70bp-75bp. The sterling 2012s are expected to come at 105bp over Gilts, and the 2030s at 115bp over.

Rating: Aa1/AA/AA+ Amount: Z200m (increased from Z150m)

The mandate to arrange the $40m-$50m new credit for Hrvatska Banka za Ovnovu Ratvitkak (HBOR) is due to be awarded in the next two weeks. HBOR last tapped the market in October 2001 for a Eu50m three year bullet facility.

The loss of three senior members of HSBC's equities division will cast further doubt over the bank's commitment to its investment banking business. Mark Brown, global head of research, Frans Lindelow, head of European product and Sanjiv Mahal, head of European trading, have all separately resigned from the bank. In addition HSBC has lost four analysts from its pan-European banking research group.

Guarantor: DaimlerChrysler AG Rating: A3/BBB+

Rating: AA- Amount: $100m

HSBC launched the £425m five year dual tranche facility funding Davis Services' acquisition of Denmark's textile services group Sophus Berendsen into syndication at a bank meeting held on Monday in London. Banks have been invited to underwrite the deal on two levels: £80m for an underwriting fee of 20bp and a participation fee of 30bp or £50m for an underwriting fee of 17.5bp and a participation fee of 27.5bp.