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Rating: Aaa/AA+ Amount: Nkr2.5bn

Interest per note shall be determined as follows:

Guarantor: Republic of Austria Rating: Aaa/AAA/AAA

The $360m five year fundraising for the Ministry of Finance of the Sultanate of Brunei arranged by HSBC, BNP Paribas and ABN Amro is in documentation. The deal was increased from $250m following enthusiastic commitments of over $900m. Banks were scaled back by 67.5%. The lead arrangers held $30m, $20m and $15m respectively. Market observers were not surprised by the strong support the borrower received due to the scarcity value of the credit.

Mandated lead arrangers Credit Suisse First Boston and Crédit Lyonnais will launch syndication of the £391m seven year term loan for Sun CP Properties Ltd imminently. Three tickets are on offer: arranger for a ticket of £50m for a fee of 75bp; co-arranger for a take of £30m for a fee of 60bp; and senior lead manager for a take of £20m for a fee of 45bp. The deal pays a margin of 150bp over Libor.

Swiss Life replaced its chief executive Roland Chlapowski this week after it was revealed that a controversial off balance sheet investment netted him Sfr3.2m in profits. Rolf Dörig, a relative unknown to the insurance market, will replace Chlapowski at the end of the year. He has been given the job of restoring confidence in the Swiss insurer as it prepares to raise Sfr1.2bn through a rights issue.

HBOS and RBS have been mandated to arrange the debt facilities supporting the buy-out of SR Technics from SAirGroup by 3i and Star Capital. The total deal size will be Eu425m, including additional investment in the business with equity provided by 3i, management and co-investors.

Mandated arrangers Danske Bank, Mizuho and Nordea signed banks into the Eu250m leveraged financing for Findus this week. The deal was oversubscribed by close to 50%, but will not be increased. The facility is split into two tranches. Tranche 'A' is a Eu120m loan which pays a margin of 200bp over Libor. Tranche 'B' is a Eu10m facility which pays a margin of 250bp. There is also a Eu45m revolver which pays a margin of 200bp over Libor.

ABN Amro is marketing a securitisation of residential mortgages originated by Municipality of The Hague. The Eu217m transaction is backed mainly by loans to civil servants from a portfolio acquired by ABN Bank NV. Stichting Uiver 2002 offers a Eu206m triple-A tranche with a legal maturity of 2039 and an average life of 5.5 years. Price talk is 24bp area and ABN Amro plans to launch the deal at the end of next week.

Dresdner Kleinwort Wasserstein is planning to launch a securitisation of its aircraft loan portfolio after pulling the deal in September 2001. The $155m fully funded synthetic deal will remove credit risk mainly from the bank's aircraft portfolio, which it acquired from Tokai Bank in 1999, by transferring the risk of loan default to a special purchase vehicle. Dresdner will also obtain regulatory capital relief.

DZ Bank, the central bank for Germany's co-operative network, this week launched two securitisations sold mainly to the country's co-operative network - a Eu1bn synthetic collateralised debt obligation and a Eu623m residential mortgage deal from the Provide programme. Dynaso 2002-1, DZ's first arbitrage collateralised debt obligation, is designed to expand the co-operative network's range of investment instruments - the co-operative banks have strict investment criteria subject to credit committees and independent auditors.