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Media company Bertelsmann has announced it is delaying the pricing of its debut offering, the most significant issue in the euro corporate pipeline, after volatility gripped the markets this week. Some Eu1bn of five year notes were expected via Deutsche Bank, Dresdner Kleinwort Wasserstein and JP Morgan after the company completed its roadshow.

US insurance company American International Group this week postponed its $519m securitisation of premium finance loans — the second time in as many years that it has had to do so.

Heath Lambert, the world's seventh largest insurance broker, has launched its IPO at a price range of 325p-375p. The IPO will raise £250, to give the broker a market value of £438m at the midpoint of the range. Merrill Lynch is advising the company. A banker close to the deal said that the stock offered exposure to the insurance sector, which has seen rising rates since September 11, without the drawbacks of having a portfolio invested in equities. Several major UK insurance companies have this week been under pressure as a result of their high exposure to falling stock markets.

Rating: A3/A- Amount: $1.5bn

The HK$2bn five year term loan for Cosco-HIT Terminals will be launched to general syndication next week by arrangers Bank of China (Hong Kong), BNP Paribas, Hang Seng Bank and ICBC Asia. The deal will be priced between 45bp and 50bp according to bankers close to the deal.

US insurance company American International Group this week postponed its $519m securitisation of premium finance loans — the second time in as many years that it has had to do so.

Arrangers ABN Amro, IntesaBci, Commerzbank, K&H Bank and Central European Bank will launch the Eu300m five year facility for Hungarian Development Bank (MFB) into syndication next week. The long awaited deal is thought to carry a margin of 22bp over Libor.

Rating: Aa3 Amount: Huf8bn

Royal Bank of Scotland, the mandated arranger for the £275m 20 year financing for the Immingham combined heat and power project, will sign in three co-arrangers next week. These banks were offered tickets of £50m. The first stage of selldown of the deal has been a long one, but general syndication is already under way. Banks have been invited to join with three tickets: £25m, £17.5m and £10m. The deal pays an initial margin of 130bp which then rises to 175bp over the duration of the facility.

The mandate to arrange the $250m multi-tranche facility for Reliance Industries is due to be awarded in the coming weeks. Bids are nearly all in and an announcement is expected in July.

The mandate to arrange the $250m multi-tranche facility for Reliance Industries is due to be awarded in the coming weeks. Bids are nearly all in and an announcement is expected in July.

The loan market has seen another new hire this week with the appointment of Paul McKenna to the syndicated finance team at ING. McKenna has joined the team as a managing director and head of leveraged finance and acquisition syndicated finance. He joins two months after Grant Johnson was appointed European head of syndicated finance at ING. With the leveraged loan market picking up momentum, the hire of McKenna, a leveraged loans expert, is timely. "This is an excellent hire for ING and further demonstrates our ambitions to drive forward our loan syndication capabilities," said Johnson. "Paul will spearhead ING's leveraged loan and mezzanine syndication capability across Europe in support of the strongly developing acquisition finance platform."