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Rating: Aaa/AAA/AAA Amount: R150m

Sole arranger and sub-underwriter Dresdner Kleinwort Wasserstein has quietly approached a handful of banks to underwrite the £545m three year deal backing YTL's £1.24bn of acquisition of Wessex Water. EuroWeek understands that Dresdner has received numerous reverse enquiries about the acquisition facility that will go out to general syndication after April.

Rating: Aa2/AA/AA Amount: Eu1.25bn

Danske Bank has signed an impressive group of banks into the Eu150m 18 month facility for AEP Energy. Joining the deal as co-arrangers taking Eu20m for 17.5bp are BayernLB, Den norske Bank and Royal Bank of Scotland.

ABN Amro has hired Merrill Lynch's global head of EMTNs, Anthony Everill, to bring its MTN business up to speed. As head of the MTN group, Everill will be based in London and report to Niall Cameron, head of debt syndicate and investment trading.

Penauille Polyservices, the French airport services group, gave another warning of the temperamental state of the market. For the second time in two weeks, a French equity deal failed to attract sufficient investor interest. Penauille, which had initially planned to tap the market last September, launched its Eu160m secondary offering last week. But a banker close to the deal said the market moved against the company during the offering period, forcing Penauille to pull the deal. The deal was scheduled to close yesterday (Thursday) but a fall of 1.8% by the CAC 40 on the day finally killed off the offering.

Guarantor: Argenta Banque d'Epargne, Argenta Societe d'Investissement, Argenta Bank en Verzekeringsgroep Amount: Eu50m

Alfa Laval, the Swedish specialist engineering firm, kicked off premarketing for its Skr9bn (Eu990m) IPO this week. Alfa Laval has appointed Credit Suisse First Boston and Enskilda Securities to lead one of a slew of IPOs that are scheduled for the second quarter in Europe as issuers and investors alike seek to take advantage of improved macro-economic conditions.

Ark Therapeutics, the UK biotechnology group, has announced its intention to list on the London Stock Exchange in an IPO that could be worth as much as £40m. This will be the first listing of a biotech company on the London exchange since 2000 and it is a deal that is sure to test investors' appetite for risk. In 2001 investors made it clear that the growth stock IPOs that had seen so much success in 1999 and early 2000 were no longer part of their strategy.

AT&T Wireless Services was forced to delay launch and widen price talk on a $3bn issue of global bonds this week amid a worldwide collapse in debt and equity prices in the telecoms sector.

AT&T Wireless Services was forced to delay launch and widen price talk on a $3bn issue of global bonds this week amid a worldwide collapse in debt and equity prices in the telecoms sector.

Rating: Baa2/BBB Amount: $3bn