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  • British cinema group Cineworld postponed its £150m IPO yesterday (Thursday), sowing concern among bankers that investors are becoming averse to new issues, even when there is a compelling story.
  • Eurotunnel confirmed yesterday (Thursday) that Citigroup had requested a meeting with its board to discuss a £3.5bn plan to restructure the Channel Tunnel operator's £6.2bn debt.
  • UK insurer Resolution, the largest consolidator of UK closed life funds, has mandated Citigroup and Goldman Sachs to arrange a £2.3bn loan to part fund its acquisition of the closed life funds of UK bank Abbey.
  • Rating: Aa1/AA-/AA+
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  • Commerzbank's ABCP conduit Kaiserplatz Funding is expected to increase its outstandings over the next one month, to fund Commerzbank's large CLO transaction, CoCo.
  • Rating: Aa2/AA-/AA
  • Unicorn Investment Bank and WestLB have launched syndication of a $150m five year musharaka sukuk for Investment Dar, an Islamic investment and finance company.
  • EuroWeek has learned that Spain's LaNetro Zed, which provides entertainment and communications products and services for mobile phones, will begin investor education for its Eu500m-Eu600m IPO as soon as next week.
  • Senior syndication of Rietumu banka's Eu75m one year loan closed yesterday (Thursday). Bookrunners Dresdner Kleinwort Wasserstein, HSH Nordbank and RZB offered lenders tickets of Eu10m for a fee of 45bp and Eu7.5m for 40bp.
  • SNS Bank's resident party boys, Roger Schumann and Jan Boon, laid on a full day of fun and frolics for 30 or so bankers and hacks last Friday, at its annual magical mystery tour around the Dutch countryside. Expect to go higher and faster than ever before, they had told us. Well, it all started with a bus ride. Very eco-conscious — but things soon hotted up. The bus took the party to racing car manufacturer Donkervoort's factory for a guided tour of the production line. Some then went on to Donkervoort's practice track for a ride at breakneck speed, courtesy of Burt, the company's professional driver and sometime TV star. Meanwhile, the other half of the party were shuttled to an airfield in a 15 metre stretch Hummer — resplendent with strobe, video and sound system, and a ceiling inlaid with fibre optic lights — for a helicopter flight. Afterwards, the two teams swapped over. SNS had planned to use the helicopter to fly us from the factory to the racetrack. Unfortunately, however, this turned out to be illegal, so into the glittering Hummer we went and zoomed off to a proper airfield. Down at the racetrack, some of the gang seemed a little disappointed not to be taking the wheel themselves. After we cleared the first corner at 180kph, though, Leak realised the bitter truth: Burt was better than the rest of us at handling this particular beast. SNS also laid on stunt driving. In souped-up BMWs, we ragged around a waterlogged course, skidding here and there until we were quite dizzy. By that stage blood sugar needed replenishing, and dinner beckoned. Unfortunately that was not the only beckoning 10 of the group were to receive. It was a perfectly honest mistake, m'lud — we just got lost among the maze of Amsterdam streets! For dinner, Jan Boon had booked a cabaret joint in the red light district. Naturally — he lived there in his student days. It was a cost saving exercise, he said. For the lost sheep of SNS's flock, however, the place was dashed hard to find, and we ended up about to knock on the door of No. 15, in the wrong street. The hostess who opened the door was only too welcoming — but it took only seconds to realise her hospitality was not what we were looking for. Having eventually found the right shebeen, we found it appropriately named Paleis van de Weemoed (Palace of Nostalgia). The entertainment was intriguing: a woman of a certain age sang and narrated over a silent 1940s New York gangster movie, accompanied by a white-suited, ponytailed feller on a piano. Maybe it took Jan back to his student days. A good few bottles of wine helped us on to a club (not in the red light district, before you ask). After Leak's introduction to the wonders of the mojito at LeasePlan's bash at the Barcelona Grand Prix last month, we thought it time to pass on the flame. Happily, we found an eager taker — SNS's managing director, Kris Wulteputte. The mojito seemed to work its magic. After telling Leak he didn't go clubbing much any more, Kris took to the dance floor, mojito in hand, and remained there for the rest of the night. Jan Wipplinger was another banker getting into the party spirit; he was last seen doing his bit for German-Dutch relations with a couple of girls on the dance floor. Please send any compromising photos to leak@euroweek.com