Search results for

Rating: Aa3/AA-/AAA Amount: Huf6bn

The majority of the MTN market's dealers are dusting off their dinner jackets and evening gowns for the upcoming rush of Christmas parties. But Leak hears that one prominent dealer has been leaving the Savile Row gear in the wardrobe and has been instead sporting a pair of very tight cycling shorts and a V-neck T-shirt.

Ralph-Dieter Vogel has left the loan syndications team at Deutsche Bank in Frankfurt to join HSBC CCF as an associate director in the loans distribution group. Vogel will report to Julian Taylor, who heads up the distribution team at HSBC CCF and in turn reports to Richard Cartledge, managing director and regional head for HSBC's syndicated finance in Europe, Middle East and Africa.

Compiled by Holger Kron Deutsche Bank, Frankfurt

Arranger Development Bank of Singapore has closed the $77m five year term loan for Resorts World, a wholly owned subsidiary of Genting Bhd involved with the hotel business and other resort related facilities. Two local banks and one foreign bank have joined the facility. Allocation details are being finalised with signing to take place shortly after.

The Czech koruna started the week on a strong note, trading at Ck30.65/Eu versus the euro - the lower end of the recent Ck30.65-Ck30.95/Eu range. On Tuesday Moody's upgraded its country ceiling rating for the Czech Republic by one notch to A1. Although this was a surprise to most market participants, there was little reaction from the currency and bond markets.

Compiled by Holger Kron Deutsche Bank, Frankfurt

The dollar picked up more than any other currency this week as 108 trades were issued. Volume topped $2bn as Kreditanstalt für Wiederaufbau closed some large transactions. The borrower's biggest trade was for $200m which had a three year tenor. The German agency also issued two Eu100m notes. The borrower was joined by a host of other German names, particularly BayernLB which closed six trades. The Landesbank's biggest transaction was for $20m. The range issue pays interest of 8% x N/365 where N equals the number of calendar days in the coupon period on which six month Libor falls within range. Morgan Stanley was the lead dealer.

Euro trading remained quiet this week. Just 64 trades went through, a slight fall on last week's level. French names were among the most active. Banque Fédérative du Crédit Mutuel's Eu200m trade was the largest deal from a French name. The three year note was led by BNP Paribas and pays a quarterly coupon. Electricité de France closed for Eu120m. Crédit Agricole Indosuez placed the 20 year note, which pays a coupon of 43bp over six month Euribor.

EuroMTN trading picked up this week after a fall in issuance at the beginning of November. Less than 300 trades were closed last week, but 350 transactions were issued in the last seven days. Yen picked up over a 35% share of the market with US borrowers closing in the biggest volume. MBIA Global Funding's ¥15bn trade was one of the biggest yen issues of the week. The note carries a two year tenor and a coupon of 4bp over three month Libor. Deutsche Bank was the lead manager. GMAC (Australia) was another heavyweight, closing a ¥6bn two year trade. Deutsche Bank was again the bookrunner and the note has a semi-annual coupon of 3.37%.

Compiled by Richard Favis RBC Capital Markets

Rating: Ba1 Amount: $125m