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Bank Austria has reopened the R100 million ($12.53 million) fungible trade issued in March. R50 million has been added to the original trade, bringing the total to R150 million. This tranche will be issued on May 22 and will mature in March 2011. It is a fixed-rate plain vanilla trade, paying a final coupon of 11%, as did the original tranche. The reopening also had the same sole-lead manager, Royal Bank of Canada (RBC). Ersin Toma, at Bank Austria's funding department, says: "RBC has seen demand in the retail sector for South African rand. The investors come from the UK and other European countries."

Barclays Capital has scored a devastating coup by taking Grant Kvalheim, John Winter and Peter Goettler from Deutsche Bank in New York and London.

An initiative to promote investment in bonds by UK retail clients was this week launched by Barclays Capital and UK stockbroker Winterflood Securities. The initiative has the support of the European Investment Bank, which plans to launch a bond aimed at the UK retail market.

Banque et Caisse d'Epargne de l'Etat de Luxembourg has raised the ceiling off its Euro-CP programme from $3 billion to $5 billion.

The BG Group has unveiled plans to launch a sterling bond in the next few weeks, offering investors their first opportunity to buy the credit since its demerger from Transco. The deal will be launched via A3/BBB+ rated subsidiary BG Energy Holdings and lead managed jointly by Goldman Sachs and Royal Bank of Scotland. A £200m-£250m five year bond is anticipated.

ABN Amro has moved quickly to plug the gap left by the departure of Brian Lawson, head of debt origination at the Dutch bank, who has resigned.