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Rating: Aa3/A+ Amount: $1bn

EuroWeek hears that CIBC is providing the debt facilities of around £120m backing the buy-out of Warner Villages by US private venture capital company Austin Ventures. Vivendi Universal's cinema chain, UCG, has been the topic of buy-out speculation since early 2002.

Do you remember when we were making discreet enquiries about Citigroup's new diva and heroine, the alluring Sallie Krawcheck? As you will remember, the wonderfully fragrant Sallie, a southern belle to the tips of her Jimmy Choos, had been brought in by Sandy Weill to clean up the mess and the pong of pickled eggs left by Jack Grubman in the Salomon Smith Barney research department. Even for a gal of Krawcheck's super-abundant talents, this was never going to be an easy task, but with the aid of a surgical mask and a silver nose-peg presented by Tiffany's, she set about it with vigour.

Bankers, issuers and investors this week speculated on a 25bp cut in US interest rates at next week's FOMC meeting or at least a change to an easing bias as equity markets hit an eight year low on Wednesday. Yesterday's (Thursday's) rebound, with all markets staging a miraculous recovery, was dismissed as a dead-cat bounce. Corporate bond spreads widened in sympathy with equities and issuance fell to a bare minimum with just Eli Lilly, Hanson and Citigroup testing US appetite for credit.

Rating: AAA Amount: Eu100m (fungible with Eu800m issue launched 11/07/02)

Rating: AAA Amount: Eu500m Öffentlicher Pfandbrief series 300

Guarantor: Adolf Würth GmbH & Co KG and Rheinhold Würth Holding GmbH

Rating: Aa1/AA+/AAA Amount: Eu500m (fungible with Eu1.25bn issue launched 15/01/03)

Rating: Aaa/AAA/AAA Amount: $100m

UBS AG finally completed its synthetic balance sheet CDO of loans to Swiss small and medium sized enterprises, after a lengthy three month marketing period. The deal, a rare example of a bank CLO from Switzerland, as well as a CLO of SME loans, offers a diversified exposure of secured and unsecured credit lines to 1,397 obligors. Middleland, Western Switzerland and Eastern Switzerland each account for around 19% of the loans.

Banca Nazionale del Lavoro and UniCredit Banca Mobiliare have begun bookbuilding for CF Finance Srl, a securitisation of loans to pharmacists for Credifarma, arranged with Euro Capital Structures. Price guidance for the triple-A Eu531m senior tranche is 45bp-47bp for a 4.8 year average life, with legal maturity in October 2012, while the Eu33m double-A bond is expected to come in the high 60bp area. The double-A bond averages 5.15 years.