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  • Denmark
  • Once a regular name in the international fixed income market, US student loans agency Sallie Mae launched its first fixed income global deal since 1998 this week, a well received $1bn 5.25% March 2006 issue. The deal was priced 2bp outside Fannie Mae's 5.5% February 2006 Benchmark Note.
  • Croatia has finished off its year's financing requirement with the launch of a Eu500m 10 year bond through Deutsche Bank and JP Morgan. Hrvoje Radovanic, assistant to the Croatian minister of finance, told EuroWeek the government was very pleased with the price, which came only 2bp wide of its outstanding five year at 157bp over Euribor. He added that, with the ¥25bn Samurai last month, this offering completed Croatia's eurobond plans for 2001.
  • Skandinaviska Enskilda Banken has issued two HK$100 million ($25.29 million) notes off its euro4 billion ($3.72 billion) debt issuance programme. The trades differ only in their interest payment. One pays annually with a final coupon of 5.150%; the other pays monthly. Both notes have a two-year maturity and BNP Paribas is lead manager off both trades.
  • Canada today reopened the yen global market with a ¥50bn five year bond, priced at 101.00 and paying a coupon of 0.7% — a yield of just 0.49% — in a deal described by one yen specialist as “a smart and brilliant trade” and by another as “an expensively priced and slow sale”.
  • * Canada Mortgage & Housing Corp Rating: Aa1/AAA
  • Carlton has signed a £
  • Beijing-based investment bank China International Capital Corp has named former Merrill Lynch chief Peter Clarke as its new CEO.
  • CDC IXIS Capital Markets has issued a ¥1 billion ($8.4 million) trade that will be issued on March 7 2001. The note will pay a final coupon of 2.5% and the bookrunner off the issue will be Salomon Smith Barney. The note will be issued off the borrowers euro7 billion debt issuance programme.
  • Canada Mortgage & Housing Corp (CMHC) reopened the Canadian dollar global market on Wednesday with a C$750m five year offering lead managed by Merrill Lynch and TD Securities. Announced late on Tuesday afternoon following a 50bp rate cut by the Bank of Canada, the issue was heavily oversubscribed and increased from C$500m. Around one third of the paper was sold to investors outside Canada.
  • Lloyds TSB Capital Markets and WestLB have launched a £150m five year revolving credit facility for Coventry Building Society
  • Rights from CRH's Eu1.1bn deep discounted issue began trading on Wednesday. The deal, managed by UBS Warburg and Davy Stockbrokers, will help the Irish building materials group finance the Eu453m of purchases it has approved this year but has yet to pay for. "They've got plenty in the pipeline, and clearly they believe they need the funds to continue the acquisition trail," said Robert Eason, a building materials analyst at Goodbody Stockbrokers in Dublin.