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The $70m three year fundraising for All Season Property, guaranteed by China Resources (Holdings) and arranged by ABN Amro, has been closed oversubscribed and participants have had their allocations scaled back. Banks joining the small club deal are Bank of China, China Construction Bank and Hang Seng Bank.

JP Morgan and ING remain locked in discussions with the consortium that is sponsoring the purchase of a 51% stake in Cesky Telecom. EuroWeek understands the two banks have won the mandate to provide the senior debt backing the acquisition of the stake by Deutsche Bank Capital and TDC. More details will be available when the sale purchase agreement has been signed after the sale is completed at the end of this year.

The first ever mortgage backed securities deal from Costa Rica was closed this week, after 18 months of exhaustive planning and delays. The deal, involving the securitisation of residential mortgages originated by two Costa Rican banks, Banco Interfin and Banco de San Jose, had a triple-A wrap from XL Capital.

The mandate to arrange a Eu20m five year facility for Roskilde Bank has been awarded to RZB. The facility pays a margin of 28bp over Libor. Three levels of commitments have been offered: co-arranger, lead manager and manager. Proceeds will be used for working capital purposes.

DePfa is preparing a schedule for roadshows to be held before launching its debut dollar denominated global covered bond in September. The $3bn transaction, to be lead managed by Citigroup/SSB, HSBC and Merrill Lynch, will follow extensive meetings and conference calls with investors worldwide. But the target is clearly to broaden DePfa's investor base outside Europe, particularly in the US.

DePfa is preparing a schedule for roadshows to be held before launching its debut dollar denominated global covered bond in September. The $3bn transaction, to be lead managed by Citigroup/SSB, HSBC and Merrill Lynch, will follow extensive meetings and conference calls with investors worldwide. But the target is clearly to broaden DePfa's investor base outside Europe, particularly in the US.

Kemal Dervis ended months of speculation last weekend by resigning as Turkish economy minister to precipitate his own entry into politics. Dervis's aim is to form a broad-based centre-left alliance to compete in early elections scheduled for November 3. There are concerns over prime minister Bulent Ecevit's health and a breakdown in the ruling coalition's support for an EU reform package.

Rating: AAA Amount: Eu200m Öffentlicher Pfandbrief series 1026

Rating: Aaa/AAA Amount: Eu250m obligations foncières (fungible with Eu1bn issue launched 14/05/02)

Eneco, the Dutch utility, has signed a Eu500m EuroCP programme and is also hoping to sign a EuroMTN facility by the end of 2002. The signing signals Eneco's entrance into the international debt capital markets, having previously only operated a domestic CP shelf. Rinus Van Tol, corporate treasurer at Eneco, told EuroWeek that recent changes in the Dutch money markets precipitated the signing. "The introduction of the euro has opened up many new possibilities for us outside of the Netherlands as we no longer have any FX risk," he said.

Ericsson, the Swedish telecoms equipment company, gave a clear indication of how desperate it is for cash yesterday (Thursday) when it offloaded a Eu300m stake in Infineon at close to historic lows.