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Amount: $33m Rating: BB+

The spread-widening tendency prevalent at the end of last week and the start of this, was stopped in its tracks on Wednesday. Dollar swap spreads were back to the lows of the recent range, with the five year at a mid-market of 59bp while the 10 year was at 63.5bp. On Monday, the five year had been bid out to 62.5bp and the 10 year to 67bp amid a widespread feeling that the corner had been turned. These prices were at least 5bp north of the lows seen this month.

After a successful senior syndication, Danske Bank (mandated lead arranger) and Nordea (mandated arranger) this week launched the Eu400m seven year multi-currency revolving credit facility for the City of Göteborg into a select general syndication. EuroWeek understands that only one ticket of Eu25m for 3bp is on offer to banks.

Of the 24 banks that were invited to recommit to ABB's $3bn revolver, 17 rejoined on Tuesday April 16, proving that ABB can rely on the support of its relationship banks - even in trying times. Recommitting by April 16 entitled banks to a 20bp early bird fee.

Banks are undertaking preliminary work in the hope of securing the mandate for the NT$15bn seven year financing for Quanta Display Inc. The borrower, a leading manufacturer of thin film transistor LCD devices, is planning the development of its fifth generation plant.

Rating: Aa3/AA- (Moody's/Fitch) Amount: Eu500m

South Africa wrapped up its entire overseas funding for the fiscal year to March 2003 yesterday (Thursday) with its biggest international bond to date - a $1bn 10 year issue via Barclays Capital and JP Morgan. The deal is the sovereign's first dollar benchmark in three years.

Rating: Aa1/AAA Amount: $390m

Rating: A1/A+/A+ Amount: Eu250m (fungible with Eu750m issue launched 20/03/02)

Global hedge fund assets will grow by 26% this year to $760bn, according to research published this week by Goldman Sachs. The findings are part of the bank's second annual survey of the investor base, and show that hedge funds continue to gain in size at the expense of traditional asset managers.

The Hellenic Republic launched the longest dated syndicated euro-zone government bond this week, a Eu3.5bn 5.9% October 2022 transaction that added to the growth in issuance at the long end of the euro government bond markets. Led by Commercial Bank of Greece, Deutsche Bank, Goldman Sachs, Morgan Stanley and National Bank of Greece, the bond was on Wednesday - a day ahead of schedule - priced at 44bp over the 5% October 2016 OAT, equivalent to around 20bp over Euribor, which was flat to Greece's outstanding 2019 issue. By yesterday (Thursday) it had tightened to 42bp-43bp over.

Bank of America and US media company Viacom took advantage of a lull in high grade bond supply this week to issue $1bn 10 year and $700m five year global bonds, respectively. The self-led Bank of America deal was priced at 105bp over Treasuries, in line with market comparables.