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Coal and metals mining company Xstrata's $8.5bn acquisition facility has raised more than $10bn in commitments and will close within the next few days. Bookrunners on the deal are Barclays Capital, Deutsche Bank, JP Morgan and Royal Bank of Scotland.

The summer lull in the league tables deepened this week. Citigroup, Barclays Capital and Deutsche Bank continue their reign at the top of both league tables one and two. Société Générale was the only mover in table one, inching up one notch into 17th position. One of its deals was a Eu100m one year note at Euribor flat for Banesto Financial Products.

Rating: Baa2/BBB

Morgan Stanley: strong Q2 figures for bonds, equity

The Moscow Bank for Reconstruction and Development defied hostile market conditions to print its $100m three year senior bond issue this week, after offering investors a generous coupon and a one year put option to sweeten the deal. Bookrunners Dresdner Kleinwort Wasserstein and HSBC priced the deal yesterday (Thursday) at 8.8%, or 361bp over the three year 4.825% May 2009 US Treasury — the tight end of a range that was refined yesterday from the 8.825% area to 8.8%–8.5%.

Bridgepoint and AlpInvest have cancelled the planned flotation of retirement home operator Medica France and have also pulled its post-IPO financing arranged by Royal Bank of Scotland. Medica was expected to raise Eu592m when it floated on Euronext's Paris exchange today (Friday). The company said in a statement to COB, France's stock exchange regulator, that it had decided not to pursue this process "in view of present market conditions".

Latin American governments continued with their external debt reduction plans this week. Mexico's finance ministry announced it would prepay about $7bn of loans from the World Bank and Inter-American Development Bank, while the Brazilian treasury said it will continue to buy back dollar debt in the 20s and 30s.

Latin American governments continued with their external debt reduction plans this week. Mexico's finance ministry announced it would prepay about $7bn of loans from the World Bank and Inter-American Development Bank, while the Brazilian treasury said it will continue to buy back dollar debt in the 20s and 30s. Alonso Garcia Tames, Mexico's deputy finance minister, said yesterday (Thursday) that the government would acquire reserves from the central bank, which it will pay for by issuing new floating rate development bonds.

The convertible bond market displayed its typically paradoxical behaviour this week when, as IPOs were being pulled, two companies launched highly successful CBs that gained strong support from investors and were increased in size.

Rating: Aa3/AA-