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BBVA overcame concerns surrounding its Latin American exposure this week to successfully launch its Eu3bn five year cédulas hipotecarias transaction. But EuroWeek understands that rival bank SCH may restructure its forthcoming deal in light of questions over its exposure to the region and oversupply in the five year maturity. Bankers had been expecting SCH to raise up to Eu3bn in the same maturity as BBVA soon after its roadshow last week, but the Spanish bank and its joint leads - CDC IXIS, Commerzbank, Goldman Sachs and HypoVereinsbank - have not yet finalised the transaction's structure.

BBVA overcame concerns surrounding its Latin American exposure this week to successfully launch its Eu3bn five year cédulas hipotecarias transaction. But EuroWeek understands that rival bank SCH may restructure its forthcoming deal in light of questions over its exposure to the region and oversupply in the five year maturity. Bankers had been expecting SCH to raise up to Eu3bn in the same maturity as BBVA soon after its roadshow last week, but the Spanish bank and its joint leads - CDC IXIS, Commerzbank, Goldman Sachs and HypoVereinsbank - have not yet finalised the transaction's structure.

The mandate to arrange a $500m seven year refinancing for Norwegian shipping company Bergesen dy A/S was awarded this week. Joint mandated lead arrangers are Barclays Bank, Christiania Bank, Deutsche Bank, DnB Markets and JP Morgan.