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What is happening at Cazenove, the small, but socially perfect in every way, agency brokerage house? Friends who have recently passed by the firm's offices in Tokenhouse Yard, off Moorgate, reported a definite smell of cordite in the air. Had someone been shot or were the partners simply getting in some practice for the opening of the grouse shooting season on August 12? Well, now we know. Before you could say, "What really happened to Tom Schock and Joan Beck?", the unlucky David Verey was no longer on his high perch. This leaves David Mayhew in complete control, but the firm in some disarray.

Morgan Grenfell Private Equity took advantage of the buoyant UK gaming sector this week when it sold bookmaker Coral Group to Charterhouse Development for £860m, just three years after it bought the business for £390m from Ladbrokes. The sale of Coral is the second successful exit by a venture capitalist from a gaming business this year, the first being CVC and Cinven's flotation of William Hill in June.

Morgan Stanley provoked consternation among bankers by completing a $750m four year bond for the Lebanese sovereign last Friday without charging fees. Morgan Stanley could not be reached for comment as EuroWeek went to press, but the deal is said to roll over some promissory notes that were due to mature shortly.

ABN Amro plans to shed a further 400-500 jobs in corporate finance and equities by the end of this year, the chairman of its managing board Rijkman Groenink told a press conference in Amsterdam yesterday (Thursday). The Dutch bank will also merge the loan products group into its global financial markets business to create an integrated debt team. Elkjo Kok, who was head of loan products, becomes group finance officer. Piero Overmars becomes head of integrated debt.

Morgan Stanley provoked consternation among bankers by completing a $750m four year bond for the Lebanese sovereign last Friday without charging fees. Morgan Stanley could not be reached for comment as EuroWeek went to press, but the deal is said to roll over some promissory notes that were due to mature shortly.

After weeks of bad news, the announcement that the IMF had granted Brazil a $30bn crisis rescue package brought a glimmer of light into the market. It not only boosted Brazilian bonds and stock market, but offered a ray of hope to international markets as well. Spreads on banking sector bonds rallied and equity markets also improved. Corporate spreads generally were a touch wider but bonds of companies with Brazilian exposure, such as Telefónica and Portugal Telecom, had a field day, both credits tightening by 50bp and 35bp respectively.

Rating: Aa3/AA-/AA- Amount: £150m

Rating: Aaa/AAA/AAA Amount: $1bn

Rating: Aaa/AAA/AAA Amount: Eu100m

The World Bank enlivened the primary market and kicked off its financial year by issuing a $1bn seven year global bond, responding to flight to quality demand from a blue chip investor base. The transaction, priced at 97bp over the five year Treasury and re-offered at Libor minus 25.5bp, was lead managed by Dresdner Kleinwort Wasserstein and HSBC.

The World Bank enlivened the primary market and kicked off its financial year by issuing a $1bn seven year global bond, responding to flight to quality demand from a blue chip investor base. The transaction, priced at 97bp over the five year Treasury and re-offered at Libor minus 25.5bp, was lead managed by Dresdner Kleinwort Wasserstein and HSBC.

Cassa di Risparmio di Cento has put its name to a Eu500m EuroMTN programme. Caboto has scooped the arrangership. The dealers on the panel are ABN Amro, Bankgesellschaft Berlin, Deutsche Bank, Mediobanca, Natexis Banques Populaires and UBM. Deutsche Bank has signed an Eu800m asset backed EuroMTN facility under the name of Silver Funding. Deutsche Bank is the sole arranger and dealer.