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The European primary equity market shuddered to a halt this week. It had been slowing down since mid-2000, but a wretched week for the secondary markets ensured that it is has become almost impossible to persuade funds to invest in equity. The FTSE 100 index in London, for example, fell below 6,000 points for the first time since April 2000, and finished on Tuesday at 5,972, its lowest close since October 1999. The Neuer Markt in Frankfurt also had a torrid week, with the Nemax 50 index reaching record lows, at 1,995 points yesterday (Thursday).

Bulgaria Bulgaria's deputy finance minister Plamen Oresharski has said the country intends a Eu150m-Eu200m Eurobond in the second half of 2002, following approval of a debt management plan that maintains provisions in the 2001 budget.

New Turkish loan launches are on hold as banks wait to see how the country's financial crisis will be resolved. Turkey's second financial crisis in the last three months comes as the Turkish loan market looks to regain its confidence.

* National Australia Bank Ltd Rating: Aa3/AA/AA

Freddie Mac is due to price its latest EuReference Note on Tuesday. The deal, a Eu5bn three year note, is the third issue in the series of four quarterly euro denominated benchmarks that Freddie Mac has committed itself to issue. BNP Paribas, Lehman Brothers and Merrill Lynch have the mandate.

* Landesbank Rheinland-Pfalz Girozentrale Rating: Aa1/AA/AAA

Despite increasing Japanese investor caution against Samurai bond issues, Pohang Iron and Steel Corp (Posco) successfully accessed the Samurai market this week. However, Deutsche Telekom could not escape the overriding market pessimism and was forced to delay its plans to launch a ¥100bn transaction.

Despite increasing Japanese investor caution against Samurai bond issues, Pohang Iron and Steel Corp (Posco) successfully accessed the Samurai market this week. However, Deutsche Telekom could not escape the overriding market pessimism and was forced to delay its plans to launch a ¥100bn transaction.

Principal Life Global Funding has signed a $3 billion global debt issuance programme. Credit Suisse First Boston has won the arrangersip. The US and European dealers are the arranger, Bear Stearns, Lehman Brothers, JP Morgan, Morgan Stanley Dean Witter, Salomon Smith Barney and UBS Warburg.

Westland/Utrecht Hypotheekbank has made its 28th trade in yen in 2001: a ¥2 billion ($18.03 million) five-year note that pays 0.8%. Yen has been the issuer's most frequently used currency, with US dollar in second place with 16 trades this year. Its yen issues appear in a range of maturities ranging up to 20-year notes, but none is for more than $18 million.

Banco Sabadell, Banco Pastor and nine cajas rurales this week launched the fifth securitisation to take advantage of the Kingdom of Spain's offer of a partial guarantee for securitisations of loans to small and medium sized businesses (PYMEs). Jointly lead managed by Crédit Agricole Indosuez, DG Bank and EBN Banco, the deal was unusual for the asset class in that it did not include a Spanish savings bank.