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Triple-A and double-A issuance were separated by just one issue, but over $1bn more was closed by the top rated credits. Supranationals were the most active and issued in greater volume than any other triple-As. Over $850m was closed from 26 trades. The European Investment Bank was the busiest supra issuing 11 trades. Included in its eight yen deals was a ¥1.5bn 30 year trade, placed by Daiwa. The FX/currency-linked hybrid pays annual interest of 4% until February 25, 2004. Thereafter interest is linked to the yen/dollar exchange rate. The note was increased from its original size of ¥1bn.

Banks which have committed to the $850m debt facilities guaranteed by Diageo supporting the Bain Capital, Texas Pacific Group and Goldman Sachs buy-out of Burger King will be signed into the deal next week. The loan proved popular in syndication and has been closed heavily oversubscribed.

ABN Amro, BBVA, Danske Bank, Deutsche Bank and Rabobank have joined JP Morgan in the initial phase of syndication of the $6.1bn multi-tranche debt facilities backing Cadbury's $4.2bn acquisition of US gum company Adams. Two banks have declined invitations and two banks are still assessing the deal.

Rating: Aa3/AA- Amount: NZ$100m

Rating: Aa3/AA- Amount: NZ$250m

Rating: Aaa/AAA/AAA Amount: Eu500m obligations foncières (fungible with Eu1.5bn issue launched 14/01/03)

Rating: Aaa/AAA/AAA Amount: $100m (fungible with $500m issue launched 26/09/02)

Dexia Municipal Agency (Dexma) and Deutsche Hypothekenbank highlighted the importance of quality in the Pfandbrief market this week. The success of their Eu1bn deals, coming after Allgemeine Hypothekenbank Rheinboden postponed a planned Eu1bn Hypothekenpfandbrief last week, suggests that investors are only looking for top notch paper (see EuroWeek 788, page 5).

Rating: A1/A/A Amount: Eu100m

Mandated arrangers Bank Austria Creditanstalt, BayernLB and Sumitomo launched general syndication of the Eu150m five year term loan for Privredna Banka Zagreb (PBZ) this week. Bawag, Erste Bank, LB Kiel and RZB joined before the retail stage as arrangers. The deal pays a margin of 70bp over Libor for years one to three and 75bp for years four and five. Three tickets are on offer: co-arranger for Eu10m for a fee of 50bp; senior lead manager for Eu7.5m for 45bp; and lead manager for a ticket of Eu5m for a fee of 42.5bp.

Frank Quattrone, Credit Suisse First Boston's technology head, was suspended on Monday following an internal investigation into questionable IPO practices. The banker, who became synonymous with lucrative technology IPOs in the late 1990s, was put on leave after it transpired he had authorised the destruction of documents even though he knew a regulatory investigation was imminent.

Frank Quattrone, Credit Suisse First Boston's technology head, was suspended on Monday following an internal investigation into questionable IPO practices. The banker, who became synonymous with lucrative technology IPOs in the late 1990s, was put on leave after it transpired he had authorised the destruction of documents even though he knew a regulatory investigation was imminent.