Search results for

Rating: A1/A/A+ Amount: Eu75,

Rating: A1/A+/A+ Amount: Eu150m

Mandated arranger BayernLB will launch general syndication of the Eu100m two year bullet term loan for Landsbanki Islands on September 10. A select group of banks have been invited to join the deal as co-arrangers.

Another week noted for its extreme equity market volatility passes by, led by disappointing economic data, the approach of September 11 and the increasing likelihood of a US war with Iraq. The tightening trend of credit spreads came to an end and US bond yields were back at 40 year lows as fears of a double dip recession mounted. On Thursday Alan Greenspan is expected to enlighten the market with his outlook for the US economy.

Amount: Huf1.5bn (fungible with Huf5bn issue first launched 27/06/02) Maturity: July 16, 2007

Swiss engineering services group ABB has announced the resignation of chief executive and president Jörgen Centerman, shortly after the confirmation of the $2.3bn sale of most of its structured finance business to US financial services firm GE Commercial Finance. Centerman has been replaced by board chairman Jürgen Dormann. Dormann said that he would speed up the sale of non-core assets and plans to "re-inject new energy" into ABB.

On Tuesday afternoon, the Agence France Trésor (AFT) announced that it had suspended its debt maturity reduction strategy in the swaps market. In a press release the AFT said "The general conditions of the euro fixed income markets (notably the outright level and the volatility) experienced since the beginning of the summer do not enable the Agence France Trésor to satisfactorily implement its average maturity reduction strategy through the swaps programme." The agency stressed that the suspension was temporary. The AFT has aimed to reduce the average maturity of its liabilities by receiving fixed rate at the long end of the euro swap market and paying at the short end. By receiving at the long end of the market, the AFT covers the interest payments it owes on long-term debt issuance and replaces those liabilities with shorter-term - and lower payments. The programme was announced last October, and since then it has become the biggest customer of the euro swaps market. It has received an estimated Eu60bn of notional principal in the last 11 months.

Rating: A2/A- Amount: $500m

Mandated arranger Standard Chartered has signed banks into the $350m credit for Sociedade National de Combustiveis de Angola (Sonangol). Two more banks will join the deal during the next rollover date on September 27.

Amount: A$750m Legal maturity: October 7, 2033

Wall Street’s biggest firms are advising issuing clients not to come to market or schedule any investor meetings next Wednesday. They expect that market participants will be hard pressed to focus on anything but their thoughts of the first anniversary of the September 11 terrorist attacks last year.

Wall Street’s biggest firms are advising issuing clients not to come to market or schedule any investor meetings next Wednesday. They expect that market participants will be hard pressed to focus on anything but their thoughts of the first anniversary of the September 11 terrorist attacks last year.