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Eaton Corp has added Barclays Capital to the dealer panel off its euro250 million ($232.13 million) Euro-CP programme. The only other dealer is Citibank, and the programme is arranged by Eaton Corp itself.

Brazil

The news of Edson Mitchell's untimely death at the age of 47 has cast a pall over the Euromarkets and the entire banking industry. Do not be under any doubt that Edson was the King of the Euromarkets. He wore that particular crown ever since Hans-Joerg Rudloff was toppled by CSFB insiders in March 1993 and exiled to the Siberia of Credit Suisse HQ. The only pretenders to Mitchell's throne were Connie Voldstad at Merrill, Chris Goekjian at CSFB and Robert Diamond at Barclays Capital. Mitchell was the quintessential $20m a year man who looked the part, loved every minute of life and delivered results time after time when his competitors and imitators could make only shallow promises. Edson's greatest success was in building a world class debt capital markets and equities business for Deutsche Bank from grass roots. When he started to lay the foundations in 1995 we were sceptical about his chances of success - silly us. By his charm and sheer force of personality (an open cheque book from Deutsche also helped the process) Mitchell created in four years what JP Morgan had failed to achieve in 15. It was a stunning accomplishment and marked Mitchell as someone who was simply in a different class from his contemporaries. Look at the recent flabby performance of Goldman Sachs or CSFB in fixed income. How much would they have paid to have Mitchell on their side? If he had auctioned himself with a reserve of $50m per annum for a five year contract there would have been no shortage of bidders.

* Deutsche Genossenschafts-Hypothekenbank

Europaische Hypthekenbank has redenominated its $1.5 billion Euro-CP programme to euro1.5 billion ($1.39 billion). It has also changed its name from Eurohypo European Mortgage Bank to its current issuer name. Deutsche Bank is the programme arranger.

* ABB International Finance NV

The Federal Reserve woke the international debt markets from their new year slumber on Wednesday when the US central bank announced a 50bp cut in the Fed funds rate aimed at averting a hard landing for the US economy. Having changed its stance to a tightening bias in December, the Fed has reacted to growing evidence in the last month of 2000 of a sharp slowdown in the economy — evidence that had led most economists to predict a rate cut of 25bp-50bp this month.

The Federal Reserve woke the international debt markets from their new year slumber on Wednesday when the US central bank announced a 50bp cut in the Fed funds rate aimed at averting a hard landing for the US economy. Having changed its stance to a tightening bias in December, the Fed has reacted to growing evidence in the last month of 2000 of a sharp slowdown in the economy - evidence that had led most economists to predict a rate cut of 25bp-50bp this month. However, the timing of the announcement, during a conference call at 11am EST, surprised the market. Nasdaq, which had fallen 7% on Tuesday, recorded on Wednesday its highest ever one day rise of 14%.

Dresdner Kleinwort Wasserstein has rationalised its debt function by merging its global markets and global finance businesses in a new global debt division. Andrew Pisker, who was co-head of global markets, heads the division. Global debt will unite the fixed income and corporate borrowing operations, combining bonds, derivatives, debt advisory and structuring with balance sheet and distribution under one roof. It will allow DrKW to leverage its bonds and loans operations more effectively.

Deutsche Bank and Merrill Lynch have grabbed the prestigious mandate for the Republic of Poland's minimum Eu500m 10 year bond issue - which will in all probability be the first transaction from eastern Europe in 2001. The two banks beat off competition from two other shortlisted banks, Credit Suisse First Boston (CSFB) and JP Morgan.

* Deutsche Bank Ireland plc

Portugal Telecom has increased the ceiling on its euro2 billion ($1.9 billion) global MTN programme to euro4 billion. Banco Espirito Santo Investimento, Banco Portugues de Investimento, BCP Investimento and Caixa Geral de Depositos have been added as domestic arrangers.