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Britannia Building Society (Britannia) is to issue a $12.16 million Euro-MTN on April 6. The FRN pays interest quarterly and matures on May 12 2005. The issue is a cross-currency swap to produce sterling. HSBC acts as the bookrunner. The issuer is keen to follow up on this issue, which is their second of the year. Jeremy Helme, treasury sales manager for Britannia, says: "We intend to do a lot more private placements of this nature and we are pricing accordingly."

Bremer Landesbank Kreditanstalt Oldenburg (Bremer Landesbank KO) has closed a euro20 million ($17.49 million) plain vanilla FRN with a tenor of 40 years. The note was lead-managed by Banco Bilbao Vizcaya Argentaria and it pays a coupon of 6m Euribor+38. The trade is subordinated. Fred Walther, head of international financing at Bremer Landesbank KO, says: "There was demand for subordinated debt in this maturity and it's no bad thing to have long-dated lower tier 2 debt." This is the fourth long-dated euro trade that Bremer Landesbank Kreditanstalt Oldenburg has issued this year. It previously issued two 30-year notes, one paying 6m Euribor+ 35, and a 20-year euro10 million trade.

Bankers this week were looking towards a possible jumbo buy-out facility for Yell, the yellow pages subsidiary of British Telecommunications (BT). BT is thought to be in exclusive talks with private equity groups Apax Partners and Hicks, Muse, Tate & Furst about the sale of the business, which is valued at about £3bn.

Callahan Associates has mandated KBC and Merrill Lynch to arrange an interim Eu550m facility to support the cable company's acquisition of 54.2% of Belgian communications firm Telenet. JP Morgan and NIB Capital are also thought to have joined the loan as lead arrangers.

CDC IXIS has issued a ¥300 million ($2.38 million) Euro-MTN off their euro3 billion ($2.62 billion) Euro-MTN programme. This is the issuer's 56 yen trade of the year. The note pays interest annually and has a final coupon of 10.0%. The issue has a 30-year maturity.

Citibank/SSSB today (Wednesday) announced the appointment of David Basset as head of European loan sales and trading.