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Twelve of the 13 trades announced in US dollar only just amounted to over $100 million, but with a single public deal from Nomura Global Funding the volume reached over $800 million. The $680 million three-year trade was led by Nomura International, and had Credit Suisse First Boston and Merrill Lynch as co-managers. World Bank's $30 million trade was the next biggest and goes out to February 2005. It has a fixed coupon of 3.3%. KfW International Finance announced two deals. One was a $10 million two-year trade with BNP Paribas as bookrunner, and has a fixed coupon of 3.325%. It has a single call option after six months. The issuer also went for a $20 million five-year step-up deal via Morgan Stanley. It has an initial coupon of 4.5% and then steps up by 25 basis points every year. Call options are available after year one and annually thereafter. Sigma Finance Corp went for a $4 million seven-year range accrual trade. BNP Paribas was the dealer. And Eurofima did a $11.9 million eight-year deal.

Dairy products and fruit juice manufacturer Wimm-Bill-Dann this week became the first Russian corporate to launch an initial public offering in the international equity markets since mobile telephony firm MTS in July 2000. Global co-ordinator and bookrunner ING Barings priced the American Depository Share (ADS) issue for the first Russian consumer goods company to list in the US after the close of trading on the New York Stock Exchange yesterday (Thursday).

Austria Arrangers Bank Austria (joint bookrunner), Citigroup/SSSB (joint bookrunner) and Dresdner Kleinwort Wasserstein (joint bookrunner, facility and documentation agent) are waiting for one laggard to join the Eu500m five year revolving credit facility for OMV before closing general syndication next week.

Last week ended relatively slowly in the yen market, with just 17 trades announced, compared to a daily high during the week of 46. KfW International Finance issued the biggest note. It was a ¥2.2 billion ($16.43 million) 30-year trade. Other triple-As included European Investment Bank, with a ¥1.6 billion note and a ¥1 billion note. Both go out to February 2032. And World Bank went for a ¥1.2 billion deal and a ¥1 billion deal with respective maturity lengths of 20 years and 30 years. Credit Lyonnais Finance went for a ¥50.78 million trade and a ¥50.65 million trade, both with terms of three months. Kommuninvest I Sverige announced a ¥100 million 25-year trade with Goldman Sachs as bookrunner. It has a power reverse dual currency structure linked to the Australian dollar and yen exchange rate. Baa1-reated Sumitomo Chemical Capital America did a ¥1 billion one-year trade. Toshiba International Finance (Netherlands) did a ¥1 billion six-moth trade.

Eighteen trades were announced in the yen market on Monday and amounted to $124.7 million. Mitsubishi Electric Finance Europe did ¥5 billion ($37.35 million) of this in three trades, one for ¥3 billion with a term of two months, and two for ¥1 billion. The latter have terms of two months and three months. The usual triple-As were doing business too. KfW International Finance announced a ¥1 billion 30-year deal with Salomon Smith Barney as bookrunner. World Bank went for a ¥1 billion trade, also via Salomon, and with a term of 25 years. And Kommunalbanken did a ¥1 billion 29-and-a-half year trade via Salomon. Sanwa International did a ¥52.96 million three-month deal. Svensk Exportkredit went for a ¥800 million 19-year-and-two-month trade via Salomon Smith Barney, and also announced a ¥1 billion 15-year deal. UBS did a ¥2.8 billion five-year trade. In the financial repackaged sector Apollo Spires, the Merrill Lynch-arranged conduit, announced three trades, for ¥500 million (one-year-and-eight months), ¥660 million (three-years-and-five-months) and ¥1 billion (three-years-and-seven-months). Voyager, the Daichi-Kangyp Bank SPV, did a ¥500 million one-year-and-10-month trade.

Yen trades are down as the region slips out of holiday mode, but Westland/Utrecht Hypotheekbank still managed to do a callable hyper reverse dual currency note. The ¥500 million ($3.71 million) deal is very similar to a normal callable reverse dual currency note, and after a year paying 3% is linked to the Australian dollar-yen exchange rate. UBS Warburg was the bookrunner. Triple-As still dominated proceedings, with World Bank announcing two ¥3 billion 30-year trades. CDC IXIS Capital Markets did a ¥500 million 20-year note and a ¥600 million 25-year note. And KfW International Finance did three trades. One was a ¥2 billion 25-year note with Nomura as bookrunner. It has a fixed coupon of 3% for the first year and then is linked to the US dollar-yen exchange rate in the usual power reverse dual currency (PRDC) format. One was a ¥1 billion 30-year deal with Nikko Salomon Smith Barney acting as dealer. The note is also linked to the US dollar-yen exchange rate, but has no initial fixed coupon. The issuer's third note was a ¥2 billion 30-year trade done via Daiwa SMBC Europe. The coupon is fixed for one year and is then linked to the US dollar-yen exchange rate. All three trades are Bermuda callable. Kommuninvest I Sverige went for a ¥300 million 25-year PRDC trade with Nomura as dealer. The coupon is fixed at 5% for year one then is linked to Australian dollar-yen. It also announced a ¥100 million 25-year note with Tsubasa as dealer. Its initial coupon is 6% and then is linked to US dollar-yen.

Karl Essig, one of the securitisation market's most influential bankers, has retired from Morgan Stanley. Essig, who was global co-head of the bank's securitised products group (SPG), had been planning to retire for more than two years and gave up his day-to-day responsibilities at the end of December, but his departure was only formally announced last week.

Banque AIG is to put its name to a $4 billion Euro-MTN programme. Goldman Sachs has scooped the arrangership. It is the first French issuer to join the MTN market in 2002 and the 13th French borrower to come to the market since the start of 2001. Goldman Sachs's appointment as arranger is the bank's first arrangership since December 2000 when it was appointed as joint-arranger to Natexis Banques Populaires's euro5 billion ($4.34 billion) programme. Banque AIG, a fully-licensed French bank, is the European entity of AIG Financial Products Corp, a member of American International Group (AIG). The AIG group also has a $25 billion note issuance programme under the name of AIG Sun America Institutional Funding II. The programme has $14.87 billion outstanding off 96 trades and was arranged by Merrill Lynch. The arranger is also the only named dealer on the panel.

Private Media Group, the Spanish pornography distributor, once again postponed its Neuer Markt listing on the final day of bookbuilding last Friday. The Spanish media group had initially planned to seek a secondary listing on the German growth exchange last October, but following the events of September 11 it took the decision to put off the secondary offering until the beginning of this year.

Nigeria EuroWeek understands that BNP Paribas, Crédit Lyonnais, Citigroup/SSB, Mediocredito and WestLB have the mandate to arrange around $1bn of project financing facilities for Nigeria LNG.

China Arrangers HSBC and Mizuho Financial have launched the $200m 12 year syndicated portion of the $708m offshore financing for Shanghai Secco Petrochemical Co.

AngloGold has taken advantage of the strong gold price and its position as one of the region's favourite credits to raise an oversubscription on its $500m three year loan. Although the deal was increased to $600m, banks that joined the facility had to be scaled back.