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Temple, Ariz.-based Mobile Mini, a provider of portable storage units and offices, has switched its lead lender from Deutsche Bank to Fleet Capital after Fleet offered better pricing on the $250 million revolver. The lead spot was put out to bid and Fleet provided the best deal, said Larry Trachtenberg, executive v.p. and cfo. Deutsche Bank remains the investment bank of choice for Mobile though, he added, as the firm has done equity offerings for Mobile.

Japan Finance Corporation for Municipal Enterprises (JFM) this week overcame negative sentiment towards Japan and Japanese government guaranteed issuers (JGGIs) to launch an oversubscribed 10 year global bond. The book for the ¥130bn transaction was reportedly oversubscribed yesterday (Thursday), totalling around ¥175bn, and the issue is expected to be priced today (Friday) at 5.30am London time at 7bp over the JGB 236, in the middle of the 6bp-8bp indicated range.

Merrill Lynch has underwritten a minimum A$275m placement of shares in MIM Holdings, the fourth largest metals and mining stock on the Australian Stock Exchange (ASX), in the latest example of an Australian company funding a strategic acquisition through an international stock placement. Brisbane-based MIM announced yesterday (Thursday) that it had agreed to pay Rio Tinto Group $166m (A$324.5m) for Rio's 55% stake in Moura, a coal mine in northeastern Australia.

National Australia Bank (NAB) has launched the largest deal in the Australian bond market so far this year, a self-led A$500m five year transaction that attracted robust demand. The reception to the deal was bolstered by strong domestic investor demand for familiar onshore credits. Investor sentiment towards offshore issues has, in the last few weeks, become very cautious in light of the negative news about US corporates, and this week Pacific Life of the US postponed its planned deal.

Nikko Salomon Smith Barney and UBS Warburg are jointly leading the third listing of a Japanese real estate investment trust (REIT), the Japan Retail Fund Investment Corp, on March 12. UBS and Mitsubishi, the diversified Japanese corporation, are the joint holders of the REIT. The deal will comprise 52,000 units and the company has a net book value of ¥41.1bn.

Commonwealth Bank of Australia (CBA) this week launched the first international Australian securitisation of 2002, offering $1bn of global bonds as part of a A$2.5bn mortgage backed deal. Lead managed by Deutsche Bank, the global bonds were priced yesterday (Thursday) at 17bp over three month Libor, with an average life of 3.14 years. (See International Bond Issues for further details.)

Daido Life's planned IPO could top ¥160bn, according to preliminary price indications filed in Japan, which would make it larger than last year's biggest deal, Nomura Research Institute's ¥149bn IPO of December. But given the precarious state of Japan's economy and stock markets, many market participants hope that the deal will be priced to give investors plenty of upside. Nomura is sole bookrunner for the domestic and international tranches, with Merrill Lynch joint lead for the offshore portion, which is slated to account for around one-third of placement. Goldman Sachs and UBS Warburg are senior co-lead managers of the international tranche.

Cantor Fitzgerald plans to transfer two or three credit derivatives brokers to New York from London and will hire others, according to Harry Fry, senior managing director of North American derivatives in New York. Fry said it is too early to determine who will head the new group. Cantor is rebuilding the desk after its 10-strong team was killed in the Sept. 11 terrorist attacks.

CDC Ixis Capital Markets is launching a convertible arbitrage trading book and plans to begin trading within the next three months, according to a firm official. The firm plans to set aside USD250-300 million of capital for the trading book. The desk will use credit derivatives, interest-rate swaps and equity options.

Despite market grumbles about tight pricing, over Eu1.4bn has been raised from the market for the Eu750m refinancing and CP backstop facility for Swedish lock and security firm Assa Abloy. The deal was increased to Eu825m. Arrangers ABN Amro, BNP Paribas and SEB Merchant Bank signed banks into the deal yesterday (Thursday) in Geneva.

South Africa The list of banks joining the $600m debt facility for AngloGold has been released.