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  • Rating: Aaa/AAA
  • Royal Bank of Scotland (RBS) is bidding to buy Irish mortgage and savings bank First Active plc. A union of RBS's subsidiary Ulster Bank with First Active would challenge large competitors in the Irish banking market. The bid has yet to receive regulatory and shareholder approval.
  • The Eu74m senior facility backing the buy-out of AES Laboratoire by ABN Amro Private Equity is still in syndication and three more banks have joined.
  • Companies listed in the UK will no longer have to retain a financial sponsor for new issues and major transactions, if a Financial Services Authority (FSA) shake-up goes ahead.
  • Rating: Aaa/AAA/AAA
  • Bankers expect BMW to return to the market soon for a loan of up to Eu5bn and has been in discussion with its core relationship banks for some time.
  • Goldman Sachs and Lehman Brothers have won the much coveted mandate to co-ordinate the IPO of Belgian telecoms company Belgacom, which will be worth up to Eu4bn and is scheduled for the first quarter of 2004.
  • The mere suggestion that Credit Suisse, now mercifully out of the bailiffs' reach, was considering a foray into German retail banking sent a chill wind down the entire length of the Bahnhofstrasse in Zurich.
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  • Rating: Aa2/AA
  • Castle Peak Power has sent out requests for proposals to banks for a Hong Kong dollar fundraising facility.
  • HSBC this week issued the largest single tranche tier one bond ever launched in euros, taking advantage of the strong market and the fact that it has not yet reached its limit for issuing so-called innovative tier one capital.