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London Electricity Group (LE Group) and London Power Networks have put their names to a £

Canary Wharf Group plc, owner of the spreading cluster of high rise offices at Canary Wharf in London’s Docklands, will next week begin marketing the first big European securitisation of the year. The £1.25bn deal, lead managed by Citigroup/Schroder Salomon Smith Barney, Lehman Brothers, Morgan Stanley and RBS Financial Markets, is likely to be launched after two weeks of marketing.

* ABN Amro Bank NV Rating: Aa2/AA/AA

Canary Wharf Group plc, owner of the spreading cluster of high rise offices at Canary Wharf in London’s Docklands, will next week begin marketing the first big European securitisation of the year. The £1.25bn deal, lead managed by Citigroup/Schroder Salomon Smith Barney, Lehman Brothers, Morgan Stanley and RBS Financial Markets, is likely to be launched after two weeks of marketing.

Citibank (Nassau) has increased the size of its multi-currency global MTN facility to $1 billion from $500 million.

This week saw steady progress made by those EU convergence countries planning to launch deals over the next month. Bankers will be relieved when these transactions materialise - it has been an unusually quiet start to the year. The Republic of Croatia completes the European roadshow for its first deal of the year, a Eu500m seven year issue via CSFB and Deutsche Bank, in London today (Friday). Bankers at the leads said price talk should be available to investors this morning. Assuming it to be in line with secondary levels of the republic's outstanding issues, this would put the deal at around 140bp-150bp over swaps.

Aon Corp, the US insurance brokerage, has revealed a $450m securitisation of limited partnership private equity investments, which closed on New Year's Eve last year. The assets came from the group's insurance underwriting subsidiaries, Combined Insurance Co of America and Virginia Surety Co.

Prudential M&G, the UK's largest fixed income investor, opened the primary asset backed market last Friday with a Eu512.5m managed collateralised debt obligation backed by investment and high yield corporate bonds, leveraged loans and asset backed securities. Lead managed by Credit Suisse First Boston, Panther CDO 2 was originally scheduled for launch last November, but was delayed due to market conditions.

Penstock Partners and Commerzbank Securities this week revealed details of a $1.34bn synthetic collateralised debt obligation launched on December 19. Spirit Finance-I Ltd is the first in a series of transactions planned by New York-based finance boutique Penstock. Two tranches of funded notes totalling $80m were offered beneath a triple-A rated $1.26bn credit default swap with XL Capital Assurance. Rated by Standard & Poor's, a triple-A piece of $60m and a double-A $20m piece were sold with legal maturities of December 2006.

* Morgan Stanley is preparing to launch Clare Island, a Eu400m collateralised debt obligation backed by loans and bonds originated by Allied Irish Banks. The books have already closed on a Eu30m triple-B piece, a Eu25m double-B piece and the equity thanks to strong investor interest. Market participants suggest that a Eu212m piece rated triple-A and Eu104m of double-A rated paper are still to be sold. Price talk on the triple-A piece is 45bp-48bp over six month Euribor and around 75bp over on the double-A paper. Around 70% of the primarily European portfolio consists of senior secured loans, 20% mezzanine loans and 10% high yield bonds. The deal is expected to be priced in early February.