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JPMorgan has been reappointed as arranger and as a dealer off Imperial Tobacco's debt issuance programme. JPMorgan originally arranged the programme in September 1999, but was replaced as the arranger in August 2000 by another member of the dealer panel, Deutsche Bank. JPMorgan was also dropped from the dealer panel in that update. The new update sees JPMorgan return as both the arranger and as a dealer. Deutsche Bank remains on the dealer panel (see MTNWeek's feature article next week that will focus on the importance of arrangerships in the Euro-MTN market). In addition to these changes, the shelf's limit has been upped to euro6 billion ($5.56 billion) from euro2 billion and Salomon Smith Barney has been added as a dealer.

JPMorgan has self-arranged a $1 billion structured Euro-MTN programme. The signing reflects an increasing trend for MTN shelves solely for the issuance of structured notes.

BNP Paribas, Deutsche Bank and UBS Warburg have won the mandate to arrange and underwrite the Eu2.4bn acquisition facility backing Kingfisher's proposed acquisition of the 45% share of France's Castorama Dubois that it does not already own. The offer is due to be put to minority shareholders providing the offer price is deemed fair by an independent adjudicator. Of the £3.2bn proposed takeover, around £2bn will be financed by a rights offer underwritten by Credit Suisse First Boston, Goldman Sachs and UBS Warburg. The balance will be funded by bank debt.

The one stage syndication for the $25m six month facility for Kazakhstan Development Bank is progressing smoothly and will be closed on May 31. Documentation is being reviewed by the credit committees of the participating banks.

Together with the borrower, arrangers of the Eu2bn debut facility for Aeronautic, Defence and Space Company NV (EADS) are working out final allocations before signing documentation. Syndication has been a blowout success and the borrower is mulling an increase of between Eu500m and Eu1bn.

HSBC and Salomon Smith Barney have been added as dealers to New York Life Funding's $3 billion Euro-MTN programme.

Germany B&L Immobilien, the German property developer, started premarketing for its capital increase this week. Bookbuilding for the deal, which is being led by SG and WestLB Panmure, is expected to begin in the next few days. The share price did not react to the announcement of the offering, closing yesterday (Thursday) evening at Eu22.7.

Carnegie and Deutsche Bank have kicked off premarketing for the Skr2.3bn (Eu250m) IPO of Nobia, the kitchen interiors maker, in what will be another selldown from the Nordic venture capitalist Industri Kapital. Following the disappointing offering from Alfa Laval last week, Industri Kapital is seeking to raise further funds from the sale of up to 60% of Nobia, in which it holds a 56% stake.

Carnegie and Deutsche Bank have kicked off premarketing for the Skr2.3bn (Eu250m) IPO of Nobia, the kitchen interiors maker, in what will be another selldown from the Nordic venture capitalist Industri Kapital. Following the disappointing offering from Alfa Laval last week, Industri Kapital is seeking to raise further funds from the sale of up to 60% of Nobia, in which it holds a 56% stake.

Nomura has hired two senior bankers from Credit Suisse First Boston to set up a real estate finance group in London. Gary Wilder and Derek Vago had, according to Nomura, been managing partners of the real estate investment banking group at CSFB in London. Until 1999 they worked together at Bankers Trust, where Wilder was head of real estate debt capital markets.

Guarantor: Nomura Holdings Inc Rating: BBB/A+/AA

Rating: Aa1/AAA (Moody's/Fitch) Amount: Ck750m