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  • Rating: Aa3/A+
  • One of the features of the auto market in recent weeks has been the ever diminishing basis between the two US auto giants Ford and GMAC. Ford was seen at 179bp/182bp yesterday while GMAC was at 176bp/179bp, so the basis has withered to almost nothing. ?Ford is seen as getting its act together, while there a few question marks over GMAC,? said an auto default trader.
  • Would you believe that it is 10 years this week since we began to write this column for EuroWeek? Before you say, ?it seems like 20 years to us?, or ?isn?t it time to call it a day??, we have been on the receiving end of worse insults and jibes. One particularly unpleasant German banker expressed surprise that someone hadn?t taken out a contract on us, to which we replied that the bounty on ourselves had never been more than five dollars, which would barely cover the cost of the bullets.
  • Bidders for Hollinger International or its Daily Telegraph assets had a deadline of 5pm yesterday (Thursday) to submit their final offers. Kohlberg, Kravis, Roberts and Axel Springer are bidding separately for the whole company.
  • Hang Lung Properties is seeking HK$3bn from the market via a five and seven year loan and is forming an arranger group.
  • HSBC, which has merged its equity sales and trading into Stuart Gulliver?s global markets business, this week announced a series of appointments in equity sales and trading, including three new hires.
  • Rating: A1/A
  • Bank proposals for Gas Authority of India?s $100m five year financing were due yesterday.
  • Rating: Aaa/AAA
  • Rating: Aaa/AAA
  • Rating: A3/A- (Moody?s/Fitch)
  • Autostrade per l?Italia has secured Eu5.5bn in new loans as part of the refinancing of the facilities that backed the acquisition of 30% of the company by the Schemaventotto consortium in December 2002.