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Brazilian banks and corporates this week took advantage of continued strong demand in the Eurobond market for short dated high yielding paper from Latin issuers. Banco Bradesco, Brazil's biggest private commercial bank, was able to increase a $100m one year deal to $175m. Banco Safra issued a $100m three year Eurobond at 57bp inside the sovereign curve. And CESP, the São Paulo electric company, placed $300m of three year bonds.

Bridgestone has issued its first trade since August last year: a ¥1 billion ($9.01 million) note that pays 0.45%. It matures in June this year. Also issuing yen was Kommunalbanken, with a ¥1 billion and a ¥300 million note. They pay 3.5% and 4.75% respectively, and both go out to 2021.

Citigroup has increased the ceiling on its $5 billion Euro-MTN programme to $12 billion. The facility has $2.12 billion outstanding off six trades.

Crédit Agricole Indosuez, HSBC-CCF and SG have won the mandate to arrange a Eu1.25m five year revolver for French supermarket retailing and distribution company Auchan.

Commerzbank Securities has made two additions to its European structuring team. Walter Womersley joins as a credit structurer from Dresdner Kleinwort Wasserstein, where he worked in credit derivatives. Also joining as a credit structurer is Mario von Kelterborn, who previously worked in global credit derivatives at Deutsche Bank.

Canary Wharf Group plc, which owns the eponymous high rise office development in London's Docklands, this week launched a £120m tap of its first securitisation. The groundbreaking £555m deal, backed by five buildings at Canary Wharf, was the largest ever securitisation of a single property when it was launched in December 1997.

Just when telecoms companies thought things could not get any worse, this week they did.

UK bank Abbey National this week announced that it has closed its first collateralised bond obligation, a $510m synthetic issue launched by sole manager Bear Stearns on the last working day of 2000. Marylebone Road CBO 1 Ltd is backed by an investment grade pool of mainly US corporate bonds and credit default swaps. Abbey plans more CDOs this year.

Almost two years after Greenwich NatWest won the mandate, mortgage bank Istituto Italiano di Credito Fondiario this week issued the largest ever Italian performing MBS, a Eu722.6m transaction called Palazzo Finance Due. RBS Financial Markets was arranger with Deutsche Bank as joint bookrunner. Unusually, the deal combined commercial loans (25%) and residential loans (75%).

Further details have emerged about the second arbitrage collateralised debt obligation from Deutsche Bank's German asset management subsidiary, DWS Group. Priced by Deutsche at the beginning of February, the Eu400m issue will initially be backed by around 61% high yield bonds, supplemented by investment grade collateral. The proportion of high yield assets is scheduled to rise to around 80% after one year. Up to 20% of the bonds can be from US issuers, but all the collateral must be in euros. Eurostar II CDO offered five tranches of notes above a Eu51m equity tranche.