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Parkland Finance Corporation has signed a euro3 billion ($2.64 billion) Euro-MTN programme a month after signing a euro3 billion Euro-CP programme. Deutsche Bank is arranger off both the facilities. The Cayman Islands-based investment company does not intend to launch its MTN facility until September however, according to a Deutsche Bank spokesperson. It is Deutsche Bank's 16th MTN programme arrangership this year, and its sixth Euro-CP arrangership. Parkland Finance Corporation was set up in June this year for the purpose of investing in debt securities of all kinds. It has also set up a euro2 billion capital note programme. The dealers for the Euro-MTN programme are the arranger, Barclays Capital, Lehman Brothers, Merrill Lynch and Morgan Stanley. The dealers for the Euro-CP programme are the arranger and Lehman Brothers.

* Düsseldorfer Hypothekenbank AG Amount: Eu100m (fungible with Eu900m issue first launched 13/07/98) Öffentlicher Pfandbrief series 30

* Ford Motor Credit Company Rating: A2/A/A+

Royal Bank of Canada has increased the ceiling off its programme for the issuance of notes from $10 billion to $12 billion. The programme has issued 30 trades since signing in July 1997, 20 of which are still outstanding and worth $4.84 billion.

* European Investment Bank Rating: Aaa/AAA

* Pacific Life Funding LLC Rating: Aa3/AA+

Domestic issuance: * Aargauische Kantonalbank

Tower Holdings (Australia) helped cement the expanding high grade sector of Australian bonds when it launched only the second ever triple-B rated bond to firm investor interest last Friday. The $100m two year transaction was sole lead managed by National Australia Bank (NAB) and was priced at par, with a coupon of 69bp over BBSW. Tower Holdings (Australia) is the Australian arm of the New Zealand insurance company.

Issuance from UK companies in 2001 has been even better than last year, despite the global downturn in stock markets and investor appetite for new transactions. According to Dealogic Capital Data, there has been £16.6bn of equity issuance from UK corporates this year up to August 8, compared with £14.8bn in the same period last year.

EuroWeek hears that BT has approached relationship banks for a £4bn loan to facilitate the demerger of BT Wireless. The demerger is planned for the second quarter and bankers say that if BT uses the loan market to raise finances, the mandate will be awarded after August.

Globals * Cendant Corp

Sixteen trades went through in US dollar yesterday, making up 38% of the market. The Republic of Argentina closed a $3.30 million 32-month trade, due on August 13. And KeyBank issued a 35-month note for $250 million. HSBC Bank USA and HSBC Investment Bank (Netherlands) were in the one-month sector, with a $400,000 note that pays a final coupon of 5% and a $20 million note respectively. And Morgan Stanley Dean Witter Japan also stayed at the short end with its $203.26 million three-month note that pays a final coupon of 3.644%. Westland/Utrecht Hypotheekbank closed a one-year trade for $20 million. And Standard Chartered Bank issued a 12-year $38 million note that pays a final coupon of 0.500%