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Autralia-based Bendigo Bank has close a $50 million three-year trade off its $500 million Euro-MTN programme. The trade will be issued on June 8 and will mature in June 2004. The non-syndicated note pays interest quarterly and is the first trade to be issued under the programme since Bendigo Bank overhauled the dealer panel on May 16. ABN Amro, HSBC and UBS Warburg were dropped as dealers. Nomura and Westdeutsche Landesbank replace them, while Deutsche Bank keeps its place as an appointed dealer. Previous to the programme update Bendigo Bank issued two public deals for $100 million each off the programme with Deutsche Bank as lead manager off both deals.

BNDES this week took advantage of surging Japanese retail demand for higher yielding emerging market bonds by launching a blowout ¥90bn six year Samurai, increased from ¥50bn.

BNP Paribas is set to issue its second Italian lire trade of 2001 on June 18. The L45 billion ($20.5 million) note goes out until 2006. A L75 billion note was issued on 9 April.