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Nederlandse Waterschapsbank has concluded a £

Croatia Fitch has affirmed the long term currency rating of Zagrebacka Bank (ZB) at BB+, despite the recent announcement that UniCredito Italiano and Allianz have agreed terms with ZB to tender an offer for ZB's voting shares and global depository receipts. Although perceived as a positive move, Fitch said that the bank's ratings would still be constrained by Croatia's sovereign ceiling.

France JC Decaux, the French advertising media company, has revived its plans for a stock market listing. The company pulled its IPO in the middle of last year as the markets fell, but is now seeking to raise around Eu1bn of equity. Goldman Sachs is sole bookrunner. Premarketing will start on Monday, a price range is expected to be set by the middle of next week, and pricing will take place in mid-June. JC Decaux is the world's biggest player in the street furniture market and the airport advertising sector, and is ranked number two in Europe in billboard advertising.

Nordic Investment Bank has gone for yen for the 18th time this year with a ¥1 billion ($8.08 million) note that goes out to June 2011. Its final coupon is pays 9%.

Further details have emerged about a possible senior debt facility backing Nomura's $1.8bn bid for Compass Group's Le Méridien hotel chain. CIBC and Merrill are thought to be arranging a short term $900m bridge facility to back the purchase. However, this still leaves $200m from the original debt size of $1.1bn. Market sources suggest this could appear in the form of a $150m-$200m mezzanine tranche.

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.