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Compiled by Holger Kron Deutsche Bank, Frankfurt

Compiled by Holger Kron Deutsche Bank, Frankfurt

Weekly volumes in dollars continued to break through the $2bn mark, but the number of trades fell to 89 from last week's 112. UK borrowers closed well over $400m of trades.

Compiled by Holger Kron Deutsche Bank, Frankfurt

Euro issuance volumes were up by about $500m this week, but the number of trades stayed low, with just 41 trades executed. German borrowers were by far the most active, closing almost $1bn from 10 trades. DePfa issued the biggest deal of the week, a Eu250m four year trade. It combined this with a Eu200m five year issue. Both notes pay interest quarterly. IKB Deutsche Industriebank issued a Eu200m three year note via Crédit Agricole Indosuez. The note pays interest of 12.5bp over three month Libor. It was increased from its original size of Eu150m.

Yen issuance boosted volumes in the EuroMTN market this week. Trading in August was quiet, but September has started brightly, with just under $1.3bn equivalent issued through 126 trades. The auto sector was as visible as ever and American Honda Finance Corp was especially active. It closed five trades for ¥15bn in total. All five mature in September 2005. Toyota Motor Finance Netherlands went for lower volumes, closing one of the smallest trades of the week. The borrower's ¥100m note reaches out 10 years and pays a semi-annual coupon of 1.3%.

Compiled by Richard Favis, RBC Capital Markets, Johannesburg Tel: +27 11 784 5065

UK asset manager Schroders posted a 50% drop in first half profits this week, but analysts saw signs that the group's performance was turning around. After making a loss last year, Schroders made £20.5m profit in the first six months of 2002, compared with £41.5m in the same period last year.

The City of Prague, which has an A- long term rating from Standard & Poor's, is scanning the EuroMTN market to find an arranger for its planned $1bn MTN programme. The funds will be used to help finance infrastructure building plans, but the borrowings will not be part of those needed to rebuild the city following last month's floods.

Rating: Aaa/AAA Amount: $250m

Dutch chemicals group DSM has squashed rumours that it will tap the loan market to fund its recent acquisition of Roche's fine chemicals and vitamins division. DSM has bought the Swiss pharmaceuticals company division for Eu2.25bn. According to bankers, DSM has more than Eu2bn in cash on its balance sheet to finance the acquisition.