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National Grid this week overcame a lack of name recognition and the complication of issuing at holding company level to raise Eu2bn of five and 10 year money in a market that is traditionally quiet at this time of year. The roadshow, conducted by the group's treasurer, Martin O'Donovan, and his team, was key to the success of the financing.

National Grid this week overcame a lack of name recognition and the complication of issuing at holding company level to raise Eu2bn of five and 10 year money in a market that is traditionally quiet at this time of year. The roadshow, conducted by the group's treasurer, Martin O'Donovan, and his team, was key to the success of the financing.

Bulgaria A London-based Bulgarian banker says speculation that the new government of Bulgaria led by Simeon Saxe Cobourg-Gotha is considering a Eu300m-Eu400m Eurobond is premature.

Greece The Thessaloniki Port Authority in Greece completed the only IPO on the European markets this week, raising Eu17m. All of the 2.5m shares were sold by the state.

* Fortis Finance NV Guarantor: Fortis Bank

New Zealand has added Nomura as a dealer to its $3 billion Euro-MTN programme. Merrill Lynch and UBS Warburg have been dropped as dealers.

Only sterling, Danish krone and Hong Kong dollar made an appearance yesterday. It is the first time in several days that Singapore dollar has not been issued. Abbey National Treasury Services put some large sterling trades through the market.

Sterling was absent today, but the market saw the return of Danish krone, Swiss franc and Swedish krona. General Electric and GE Card Services Canada issued Dkr600 million ($70.55 million) and Dkr550 million notes respectively. The Dkr600 million 18-month note pays a final coupon of 4.8% and matures in February 2003, while the Dkr550 million pays a final coupon of 4.75% and goes out to October 2002. General Electric also issued in Swedish krona. The Skr300 million ($28.34 million) 18-month trade pays a final coupon of 4.85%. Telefonaktiebolaget LM Ericsson was also present in this currency with a Skr215 million four-year note that pays a final coupon of 6.5%. Hong Kong dollar was as popular as ever. It attracted mainly bank issuers such as Singapore Development Bank and SNS Bank Nederland. BOS International (Australia) issued a HK$80 million ($10.26 million) one-year note and a HK$60 million 30-month trade. Nederlandse Waterschapsbank closed a Sfr150 million ($86.84 million) six-year trade that pays a final coupon of 2.5%. And Singapore dollar saw trades from Development Bank of Singapore and Norddeutsche Landesbank. The latter issued a S$17 million ($9.43 million) five-year trade that pays a final coupon of 3.11% and a S$9.5 million seven-year note that pays a final coupon of 3.35%.

The volume of sterling trades is higher than the volume done through yen for the first time in ages. The two sterling notes came from Lloyds TSB Bank and HSBC Investment Bank. Lloyds closed a £

Hong Kong dollar attracted four bank borrowers to issue eight trades between them. The sizes of the trades were all less than HK$230 million ($29.49 million), with most of the notes maturing in one month. Commerzbank and Dresdner Bank issued the longest dated US dollar trades. The HK230 million and HK$45 million notes are both due on August 6 and go out to August 2004. Sterling again only attracted financials. Banco Comercial Portugues closed a £

The biggest sterling trade came from Chelsea Building Society. The £

South Africa Banks have been signed into the $1.5bn three year loan for the South African Reserve Bank (SARB). The facility closed oversubscribed, raising $3.25bn in syndication.