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  • Cattles, a UK financial services company, completed an accelerated bookbuild of 14m shares yesterday (Thursday) raising £39.3m. The deal increased the company's freefloat from about 10% to 15%. Priced at 280p, offering a discount of under 1% on the market price of 282.5p, the deal was 1.3 times covered following four hours of bookbuilding on Thursday morning.
  • Angola
  • Aventis will offer investors a rare opportunity to gain exposure to the pharmaceuticals sector in the coming weeks when it launches a Eu1bn five year benchmark via Credit Suisse First Boston, Dresdner Kleinwort Wasserstein and SG.
  • Apasco SA de CV, the Mexican cement producer, has mandated Dresdner Kleinwort Wasserstein to arrange a $150m five year term loan.
  • Hong Kong
  • After a slow start to the beginning of the year for primary debt issuance, the pipeline for Asian bond issues is beginning to build up, with the reductions in US interest rates helping to entice borrower interest in the debt market.
  • The active involvement and deepening of the domestic debt markets will prove a vital tool to help diversify capital market instruments - but there are several hurdles to overcome, said speakers at the Euromoney Asia Pacific Issuers&Investors Forum in Hong Kong today (Wednesday).
  • Asia * ARMS II Fund IX
  • Compiled by Laura Quinn, RBC DS Global Markets, London Tel: +4420 7653 4556 The main focus of the week in the Australian market was the Reserve Bank of Australia meeting on Tuesday, where in second successive months rates were cut - this time by 25bp to 5.5%.
  • Australia
  • France Télécom dominated the international markets this week with its $16.4bn equivalent multi-currency blockbuster - the largest ever corporate bond. The transaction comprised euro, dollar and sterling tranches across a range of maturities from two to 30 years, and attracted some $34bn of orders. Overwhelming demand for the bond drove spreads on all the tranches tighter, most significantly in the long dated dollar and seven year euro tranche which contracted by some 10bp to 12bp.