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Credit Bank of Moscow will launch in mid-July a one year deal of around $20m, EuroWeek hears, with Bankgesellschaft Berlin, Commerzbank and HVB close to the mandate.

Raiffeisenbank Austria (Zagreb) has mandated DZ Bank and Mizuho to arrange a Eu100m three year term loan.

High grade bond investors were reminded yesterday (Thursday) that auto spread volatility would continue to blight the corporate bond market, when Moody's placed GM and GMAC on review for possible downgrade.

High grade bond investors were reminded yesterday (Thursday) that auto spread volatility would continue to blight the corporate bond market, when Moody's placed GM and GMAC on review for possible downgrade.

FIXED INCOME

The Royal Bank of Scotland has raised the ceiling on its structured medium term note programme from $2bn to $5bn. One of the most prominent and prolific borrowers in the EMTN market, RBS's structured MTN shelf has just under $300m in the market from 22 deals since it was established in 2002. Four of the structured trades that the UK bank issued this week came in constant maturity swap, equity and undisclosed interest rate-linked structures. The longest of the trades was a 30 year ¥5bn equity-linked ticket through Deutsche Bank. RBS also has a £35bn EuroMTN shelf, which has more than $35bn equivalent outstanding, and a $20bn programme, from which two bonds have been launched for $4bn.

Business in the EMTN market slowed to a trickle after the terrorist attacks that struck London yesterday (Thursday).

Gamma Holdings has signed its $120m and Eu165m five year facility.

Deficiency guarantor: Land Niederoesterreich

Anadolubank has chosen Abu Dhabi Commercial Bank, American Express Bank, Bank of New York (bookrunner and facility agent), Commerzbank, Finansbank (Holland), HVB, RZB, Standard Bank (bookrunner and documentation agent), Standard Chartered, Wachovia Bank and WestLB to arrange a $75m one year loan.

BNP Paribas and RZB have closed syndication of a $100m two year loan for Azovstal Iron & Steel Works.

Trading at the short end of the debt capital markets was hit by the bomb blasts that struck London yesterday (Thursday) although dealflow recovered after midday.