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Troubled German insurer Allianz revitalised the financial institutions market this week with a knock-out Eu2bn deal that was oversubscribed by an extraordinarily healthy Eu6bn.

Troubled German insurer Allianz revitalised the financial institutions market this week with a knock-out Eu2bn deal that was oversubscribed by an extraordinarily healthy Eu6bn.

Anglo American plc has secured a $750m 364 day club deal through Barclays, Dresdner Kleinwort Wasserstein, BNP Paribas, HSBC and Royal Bank of Scotland. Proceeds will be used for general corporate purposes. Pricing has not been disclosed.

Were we sad about the imminent demise of the SG Warburg and PaineWebber names? Quite frankly, we can think of very few people outside of Don Marron's inner circle of cronies who will regret the passing of PaineWebber. PW was always - how shall we put it? - a lightweight. Close your eyes and try to think of two memorable PaineWebber achievements which might be included in any investment banking hall of fame. We can only remember the opportunistic acquisition of Kidder, Peabody in 1994 when the once proud KP shot itself first in the foot and then in the head.

Amount: £400m Legal maturity: November 1, 2039

Rating: Aaa/AAA Amount: $750m

Lead arranger ABN Amro Australia has been joined by four banks in sub-underwriting for the A$780m project financing for Transurban City Link. The group comprises arranger Westpac Banking Corp, senior lead managers HSBC Australia and ING Bank, and lead manager China Construction Bank (Hong Kong).

Bidding for the mandate to arrange the Eu150m four year facility for Croatia's Privredna Banka Zagreb (PBZ) has reached fever pitch. Two bidding groups are understood to be left in the running: Bank Austria, Standard Bank and Sumitomo; and BayernLB and Citigroup/SSSB. A banker close to the deal told EuroWeek that the borrower is now playing the two groups off each other in order to push the margin down. PBZ is pushing for a margin close to the 65bp over Libor it secured in 1997.

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

Rating: Aa2/A+ Amount: $1bn

Rating: Aa2/AA/AA+ Amount: $450m

Rating: Aa2/AA/AA+ Amount: Eu150m lower tier two capital (fungible with Eu600m issue launched 18/10/02)