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HypoVereinsbank and Mizuho signed five banks into the senior sub-underwriting phase of the Eu545m of senior debt facilities backing the Doughty Hanson-led buy-out of Auto Teile Unger (ATU) on Monday.

The $320m receivables backed facility for Ghana Cocoa Board (Cocobod) has been launched into syndication. Barclays (facility agent), Standard Chartered (joint bookrunner), Crédit Lyonnais (joint bookrunner), Commerzbank, DZ Bank, Ghana International Bank (collection agent), ING, Natexis Banques Populaires, Rabobank, Royal Bank of Scotland and UFJ Bank have joined as arrangers. The deal pays a margin of 52.5bp over Libor and will be used to buy cocoa beans.

Mandated arrangers ABN Amro, Commerzbank and IntesaBci have collected all the responses to join the Eu300m five year facility for Hungarian Development Bank (MFB) and syndication will close by today (Friday). EuroWeek understands that the deal has been oversubscribed to Eu485m but it has not yet been decided if an increase will be accepted. Twenty banks have joined the deal. Bank Austria Creditanstalt, BayernLB, BNP Paribas, Dresdner Kleinwort Wasserstein, DZ Bank, Erste Bank, Fortis Bank, Landesbank Hessen-Thüringen, Landesbank Rheinland-Pfalz and NordLB have joined as lead arrangers for takes of Eu35m for 2.5bp. WestLB and Landesbank Baden-Württemberg joined as arrangers for tickets of Eu25m for a fee of 17.5bp. A further eight banks joined during general syndication.

Rating: A1/A/A+ Amount: Eu250m Inhaberschuld-verschreibung series 15008

Arrangers of the debt facilities backing the Eu3.8bn of debt facilities backing the Eu3.7bn buy-out of Jefferson Smurfit Group by Madison Dearborn Partners -Deutsche Bank and Merrill Lynch - confirm that they have received seven full underwriting commitments. According to Deutsche Bank, of the 10 invited banks ABN Amro, Allied Irish Bank, Bank of America, Bank of Ireland, HypoVereinsbank, JP Morgan and Lehman Brothers have all committed Eu350m for fees of between 162.5bp and 175bp.

This week was the quietest in the bond markets for many years as issuance was curtailed by the FOMC meeting, continuing volatility, and a historic week for US Treasury yields. The 10 year note touched 3.96% on Wednesday, the lowest level since 1963, and the five year note fell to 3.03%, a 40 year low. Both yields rose yesterday (Thursday), the 10 year to 4.20% and the five year to 3.33%. The early part of the week was dominated by the FOMC meeting. Expectations that the Fed would cut rates by 25bp were confounded and there was disappointment when it held the Fed funds rate at 1.75%.

This week was the quietest in the bond markets for many years as issuance was curtailed by the FOMC meeting, continuing volatility, and a historic week for US Treasury yields. The 10 year note touched 3.96% on Wednesday, the lowest level since 1963, and the five year note fell to 3.03%, a 40 year low. Both yields rose yesterday (Thursday), the 10 year to 4.20% and the five year to 3.33%. The early part of the week was dominated by the FOMC meeting. Expectations that the Fed would cut rates by 25bp were confounded and there was disappointment when it held the Fed funds rate at 1.75%.

EuroWeek understands that CIBC is underwriting the debt supporting the CVC and PAI-led Eu203m buy-out of a 53.66% stake in Edison's animal food business Provimi. Some Eu500m of Provimi's existing debt will also be refinanced through bank debt arranged by CIBC.

Techtronics, a Japanese electronics company, is tapping the market for a ¥9bn acquisition fundraising through arranger Citibank NA (Tokyo). Syndication will be launched in September.

ABN Amro has appointed a global head of collateralised debt obligations (CDOs) in New York, a new role created to build the bank's presence in the sector. Fernando Guerrero joins from TD Securities, where he has been managing director of structured products for the last three years. Last week ABN announced the merger of the loan products group into its global financial markets business to create an integrated debt team. The loan products group comprises structured financial products, project finance and trading commodities finance.

Allgemeine Hypothekenbank Rheinboden (AHBR) will return to the market in early September with its first jumbo Hypotheken Pfandbrief since being downgraded two notches by all three major rating agencies in June. The bank, now the lowest rated Pfandbrief issuer in the German jumbo market at Baa1/BBB/BBB+, intends to launch a Eu500m-Eu1.5bn short dated transaction through Deutsche Bank, Dresdner Kleinwort Wasserstein and HypoVereinsbank, with ABN Amro, CDC IXIS, Commerzbank, DZ Bank, HSBC, Landesbank Baden-Württemberg and WestLB as co-leads.

Allgemeine Hypothekenbank Rheinboden (AHBR) will return to the market in early September with its first jumbo Hypotheken Pfandbrief since being downgraded two notches by all three major rating agencies in June. The bank, now the lowest rated Pfandbrief issuer in the German jumbo market at Baa1/BBB/BBB+, intends to launch a Eu500m-Eu1.5bn short dated transaction through Deutsche Bank, Dresdner Kleinwort Wasserstein and HypoVereinsbank, with ABN Amro, CDC IXIS, Commerzbank, DZ Bank, HSBC, Landesbank Baden-Württemberg and WestLB as co-leads.