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The Boots Pension Scheme, which set the pace last year for transferring pension assets from equities into fixed income, has entered into two 15 year inflation linked swap contracts of £100m each, with Royal Bank of Scotland and Barclays Capital. The swaps are structured so that the amounts received by the scheme do not reduce with deflation, while there is no limit on their increase.

Guarantor: Caixa Geral de Depósitos SA Rating: Aa3/A+/AA-

Czech Export Bank (CEB) is understood to be looking for a Eu700m three year bullet facility. The transaction will be the largest ever for the borrower and has generated a great deal of interest in the market.

Compiled by Holger Kron Deutsche Bank, Frankfurt

Banca Antoniana Popolare Veneta this week launched a Eu1.035bn securitisation of performing residential mortgages via ABN Amro. Giotto Finance, BAPV's third securitisation, follows a quarter of heavy issuance which saw repeat issuers such as Banca Carige and Bipop Carire come to market. It is also one of the largest securitisations in the sector after Monte dei Paschi di Siena's Eu1.1bn Siena Mortgages deal last October, via Merrill Lynch.

When ASR Bank launched its latest Dutch residential mortgage securitisation, the deal met with overwhelming demand. Pricing was tight and investors were queuing up to participate in Delphinus 2002-1, lead managed by Fortis Bank (books), Merrill Lynch and Rabobank. "There were well over 100 orders and every single tranche was significantly oversubscribed," said Ashley Kibblewhite, director of ABS syndicate at Merrill Lynch in London. "ASR Bank did an extremely good job roadshowing and the tight pricing reflects the performance of their portfolio and of the Dutch mortgage market."

WestLB is expecting to launch and price Residential Mortgage Securities 12 plc on Monday. Final tranche sizes have still not been confirmed for the Kensington Group transaction. Price talk is the 3bp area over Libor on the short dated dollar notes. The remaining notes have a legal maturity of July 2036 with price talk of the low 30s on the sterling triple-A tranche, the high 20s on the dollar triple-A notes, 60bp over on the double-A rated sterling tranche, 100bp over on the sterling single-A notes and 250bp over on the sterling layer rated BBB+. * Credit Suisse First Boston is continuing the marketing of its collateralised fund obligation (CFO) for Investcorp Man-agement Services. Price guidance on the $365m deal is in the 60bp area over six month Libor on the $250m triple-A notes, 150bp-160bp over on the $65m single-A tranche and 280bp over on the $50m triple-B layer.