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HVB has launched Europe's first wind farm securitisation, a Eu100m secured bond which it hopes will open up a new asset class providing capital markets financing to wind farm developers. The transaction, called Breeze One, was priced last Friday. It issued notes backed by three projects in Germany and Portugal run by wind farm developer and operator Energiekontor.

Three credit card firms launched securitisations in three currencies in the last week, each tapping different investor bases.

DZ Bank, the central institution of the German cooperative banking sector this week launched the third synthetic RMBS from the Provide-VR series, a programme it set up in 2002 to allow small regional banks access to the securitisation markets.

CDC Ixis has launched Europe's first public collateralised debt obligation to include equity default swaps alongside more traditional credit default swaps. The asset class was opened in December last year, with a private transaction launched by JP Morgan. That deal, Odysseus, blended a 10% EDS portion with CDS.

Citigroup has begun marketing a Eu325m corporate securitisation for Shurgard Self Storage, a Belgium-based partnership that owns and operates self-storage facilities across Europe. The deal will give investors the rare opportunity to buy into a new asset class, as self-storage is a young industry in Europe and unseen in the public term ABS market.

CLO spreads held firm this week as Axa Investment Managers Paris returned to the CDO market with a Eu308.5m leveraged loan CLO, lead managed by Merrill Lynch.

Bradford & Bingley joined the fraternity of UK mortgage master trusts this week when it launched a £2bn equivalent deal backed largely by buy-to-let mortgages. Credit Suisse First Boston and HSBC increased Aire Valley Mortgages 2004-1 plc from £1.5bn and priced all tranches in line with guidance that had been revised inwards. Taking last week's Granite from Northern Rock as a baseline, the differential in launch spreads between prime and buy-to-let mortgages has been compressed to just 3bp-4bp at the triple-A level.

McDonnell Investment Management is raising its first collateralized loan obligation since hiring a team of portfolio managers and traders from Columbia Management Advisors and Invesco.

Michael Baker Corp. has tapped Citizens Bank to lead its new revolver with Fifth Third Bank and PNC Bank as participants.

Microcell's bank debt will be paid down and existing equity investors paid out in full when Rogers takes control.

Amy Miller joined Scotia Capital last week to run the U.S. corporate finance and distribution group.

Nomura Securities International is bolstering its asset finance capital markets capability and recently hired Ali Ettehadieh as director to spearhead commercial asset-backed securitization in London.