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AT&T Corp has increased the debt limit of its $4 billion Euro-CP programme to $6 billion, having set up the facility just two months ago. The outstanding maturity limit has been increased from six months to one year. Goldman Sachs arranged the facility on June 5 this year and the total amount outstanding has already reached $3.86 billion off 85 trades. The arranger, Barclays Capital, Citibank, Deutsche Bank and Lehman Brothers are on the dealer panel.

* GMAC Australia (Finance) Ltd Guarantor: General Motors Acceptance Corp

Will John Mack open the floodgates?" This was the question being asked along the Sotogrande cocktail party circuit this week as the new CSFB supremo was reported to be asking certain key executives to take a voluntary pay cut. Those high on the list were said to include CSFB's high tech banking genius, Frank Quattrone, some investment bankers from DLJ and the bond group headed by Jack Dimaio who threatened to move to Barclays Capital. The confrontation between John Mack and the CSFB high-rollers promises to be one of the most interesting in years. What is already clear is that Mr Mack has the total support of Lukas Muhlemann, the chairman of Credit Suisse. Mack has been given a mandate to "clean house" and if that means breaking a few bones, who cares?

Bear Stearns has appointed another four salespeople to its fixed income team for Europe and the Middle East, keeping up the fast pace of expansion of its London-based team.

Banca Lombarda e Piemontese has added Barclays Capital, Caboto Holding, Credit Agricole Indosuez, Credit Suisse First Boston and Dresdner Bank as dealers off its euro3 billion ($2.63 billion) Euro-MTN programme. The facility was signed in June 1999 but has only issued five notes to date. The most recent was issued in February 2000.