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Guarantor: Deutsche Telekom AG Rating: Baa1/BBB+/A

Issuers are flocking to the EuroCP market. In the last 10 weeks the number of EuroCP signings has doubled on the same period last year. Lake Constance, which has just put its name to an Eu8bn ABCP facility, joins 15 others that have signed since the beginning of July. But while signings in the EuroCP market swell, the number of EuroMTN programme launches has fallen by nearly 40%.

Issuers are flocking to the EuroCP market. In the last 10 weeks the number of EuroCP signings has doubled on the same period last year. Lake Constance, which has just put its name to an Eu8bn ABCP facility, joins 15 others that have signed since the beginning of July. But while signings in the EuroCP market swell, the number of EuroMTN programme launches has fallen by nearly 40%.

Rating: Aaa/AAA Amount: £100m (fungible with three issues totalling £425m first launched 07/04/00)

Rating: Aaa/AAA/AAA Amount: $1bn (fungible with $2.5bn issue launched 08/08/02)

Joint mandated arrangers Commerzbank and Nordea signed banks into the Eu125m facility for chemicals and plastics supplier Uponor yesterday (Thursday). The mandated lead arrangers joined for a Eu15m ticket.

Essilor, the French optical equipment manufacturer, is in the market with a finely priced, relationship-driven transaction. Mandated to HSBC CCF and Natexis Banques Populaires, the Eu400m loan pays just 25bp over Euribor plus a utilisation fee. The company last tapped the markets for a similarly tight deal in December 2000, raising a $320m five year revolver via SG. The margin was linked to a debt-to-Ebitda grid - paying 25bp over Euribor if the debt-to-Ebitda ratio is less than 2.1 times, rising to 30bp over Euribor if the ratio exceeds this level.

LG Electronics is tapping the market for a dollar loan-style FRN facility and has mandated Citigroup/SSB, Shinhan Bank and Kookmin Bank as arrangers.

Guarantor: Federal Republic of Germany Rating: Aaa/AAA

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

Guarantor: Federal Republic of Germany Rating: Aaa/AAA

Rating: Aaa/AAA/AAA Amount: Eu239m