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Tile and sanitary ware manufacturer Ras Al Khaimah Ceramics has launched a $100m five year loan through sole mandated lead arranger and underwriter WestLB. The deal, which will have a limited syndication, has a three year extension option after five years.

Dutch insurer Aegon will today (Friday) price a normal looking Eu500m 10 year senior bond that is in fact part of a new structure put in place to help it cope with Regulation XXX.

The African Development Bank's $500m global bond, which was launched this week, gave the supranational the tightest launch spread it had ever achieved, but was marred by its secondary market performance, the Treasury plus 21bp spread widening to 26bp over in the immediate aftermarket. Secondary market trading aside, Arunma Oteh, treasurer of the AfDB, was delighted with the transaction. ?It has benefited significantly from the extensive meetings and discussions we have had with investors over the recent past,? she said.

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The privatisation of Electricité de France (EDF) got a boost this week with the announcement that the French government has agreed to a Eu8bn-Eu11bn capital raising for the debt-burdened company and instructed it to prepare for an IPO next year. A spokesman for the ministry of the economy, finance and industry declined to reveal more about the deal but the capital raising is expected to involve floating 30% of the company.

Hydro power group Verbund has launched a Eu750m loan, its first in the Euromarkets. Mandated lead arrangers on the facility, which has a five plus one plus one maturity, are Bank Austria, Barclays (bookrunner), BNP Paribas, Citigroup (bookrunner), and RZB.

Citigroup this week broke through the $30bn mark in table one. The US house has built up a lead of nearly $10bn over its nearest rival, Deutsche Bank. However, while Citigroup has continued to dominate the dealer market by volume, it has led around $1.4bn less than by this time in 2003, according to Dealogic.

GERMANY

Anshin Card Services' NT$7.3bn dual tranche fundraising will be signed on December 6 in Taipei. Mandated lead arrangers ABN Amro Bank, Chinatrust Commercial Bank and International Commercial Bank of China have committed NT$700m each, with Ta Chong Bank lending the same amount as arranger.

RETAIL CURRENCIES

Swedish lock manufacturer Assa Abloy AB has launched a tender offer for up to Eu300m of its Eu600m 5.125% 2006 bonds. The repurchase spread range is expected to be ?3bp/-5bp over mid-swaps and will be set next Wednesday. The offer runs until December 10. ABN Amro and Citigroup is handling the tender offer.