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A Sfr350m convertible from Swiss computer security software company Kudelski proved that investors still have large amounts of cash to invest if the right offer comes along. The deal, lead managed by Goldman Sachs in the first ever Swiss convertible to be sole lead managed by a non-Swiss bank, was hugely popular and gathered about Sfr1.75bn of demand from funds.

General syndication of Citic Resources' $120m five year credit should close next week. The facility is oversubscribed and the borrower may increase the loan.

With 10 year Treasury yields falling to 4% in the wake of Hurricane Katrina and the prospect of rising oil prices, many dollar borrowers' hopes of launching bonds were put on hold this week.

The Inter-American Development Bank defied one of the most volatile weeks for several months to launch its sole dollar global of the year.

With 10 year Treasury yields falling to 4% in the wake of Hurricane Katrina and the prospect of rising oil prices, many dollar borrowers' hopes of launching bonds were put on hold this week.

DBS Bank and Standard Chartered Bank have been mandated to lead arrange a $100m 364 day credit for HDFC Bank.

HSH Nordbank has won the mandate to arrange credit institution Lysing's Eu75m five year loan. The multi-currency term loan will pay a margin of 35bp. It has a balloon repayment structure.

Healthscope has announced that it will acquire 14 hospitals from Ramsay Health Care for about A$528m.

For the sixth successive month, autos were the most active sector in the US CDS market in August, according to a report on business seen at the CDS broker GFI. Also once again, the next most active sector was auto parts suppliers. The five most active names in the US market were all drawn from these two areas: General Motors Acceptance Corporation, General Motors, Ford Motor Credit, Delphi and Visteon. Delphi widened yet further this week as a Canadian auto union dismissed management plans to cut wage costs and health benefits.

Rating: Aaa/AAA

Mandated lead arrangers Abu Dhabi Islamic Bank, Bawag Bank, Standard Bank and WestLB have launched syndication of United Gulf Bank's $100m three year revolving commodity murabaha facility.