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JP Morgan clinched mandated lead arranger roles in the debt financing of two of the seven jumbo European leveraged buy-outs which were financed in the second half of 2002 - the LBO of Demag Holding Sarl and Haarmann & Reimer. This, combined with the bank's consistent strength in arranging leveraged debt for medium to large buy-outs, such as Galbani, Yoplait and Brake Bros, has lifted the bank to the top of 2002's league table of mandated arrangers of Euromarket sponsor driven LBO loans from its position of sixth in 2001.

Rating: Aaa/AAA Amount: C$100m

Rating: Aaa/AAA Amount: Sfr100m (fungible with Sfr400m issue launched 13/11/02)

Rating: Aaa Amount: Sfr100m (fungible with Sfr300m issue launched 28/11/02)

Following Hanaro Telecom's acquisition of 72% of Thrunet, the third largest broadband provider in Korea, bankers are reviewing all the documents for the W900bn fundraising arranged by JP Morgan. Once the due diligence process has been completed the deal will be launched into general syndication in February.

Lloyds TSB Group has chosen Eric Daniels to succeed Peter Elwood, CBE, as group chief executive. Elwood will retire on May 31 2003, following his 60th birthday. American born Daniels, who is group executive director, UK retail banking, will be replaced by Peter Ayliffe, managing director, personal banking.

Rating: A1/A+ Amount: Eu1.5bn

Mizuho is underwriting the debt facilities backing the £125m buy-out of Volution from Smiths Industries by HSBC Private Equity. The facilities are split between a £40m seven year term loan 'A', a £30m eight year term loan 'B' and a £10m revolver. Subordinated debt is a £20m nine year warrantless mezzanine loan. This pays 10% over Libor, 6% in cash pay and 4% as roll up.

Rating: AAA (S&P) Amount: Z100m

Welcome back from the Christmas and new year holidays. While most of our pals were frolicking on the ski slopes or sunning their interesting bits in the Caribbean, we in the south of England were awash from non-stop rainstorms and regretting the fact that someone hadn't given us a DIY Noah's Ark Christmas present. You know that the situation is dire when your three Labradors, who all take like ducks to water normally, are not even pestering you to go for a walk.

Rating: A2/BBB+ Amount: Eu600m Öffentlicher Pfandbrief

Rating: A2/BBB+ Amount: Eu250m Öffentlicher Pfandbrief