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New Skies Satellites finally came to market this week on its second attempt but was hit by a wave of negative sentiment toward technology stocks that sent it below the issue price. ABN Amro Rothschild, Goldman Sachs and Morgan Stanley Dean Witter were global co-ordinators for the Eu293m IPO which had an Amsterdam and New York listing.

* Bayerische Hypo- und Vereinsbank AG Rating: Aa3/A+/AA-

* Ford Motor Credit Co Guarantor: Ford Motor Co

While the LSE attempts to fight off its hostile takeover bid, OM Gruppen is busy at home selling a large chunk of its stake in technology unit Orc Software. Bookbuilding for the Skr391m-Skr476m (Eu46m-Eu56m) IPO is underway, and will close next Thursday.

Pfandbriefbank International this week launched its inaugural jumbo Eu750m lettres de gages issue via HypoVereinsbank and Morgan Stanley Dean Witter. The deal was priced at 51bp over the Bobl 136 and 42.5bp over the 2005 OAT. "The response we got from investors was good and very encouraging," Christof Schörnig, head of treasury at PBI, told EuroWeek. "We had premarketed the issue to international investors to gauge opinion on, and to promote the Luxembourg model, and were very pleased with the reactions we got."

Pemex issued a blowout $500m 10 year Euro/144a offering this week, its first plain vanilla dollar deal in over a year. Led by Goldman Sachs and Lehman Brothers, the transaction, issued by its fully guaranteed new funding vehicle, the Pemex Master Trust, was about four times oversubscribed.

* Bayerische Handelsbank AG Amount: Eu350m Hypothekenpfandbrief series 2220

Independent Dutch oil company Petroplus braved difficult markets on Tuesday, issuing Eu150m of B1/BB- 10 year paper via sole bookrunner ING Barings. The deal was priced with a 10.5% coupon - outside the 10%-10.25% indicated price range, but in line with spread widening in the high yield market since last Friday.

Poland's largest commercial bank Pekao began premarketing yesterday (Thursday) for a $380m secondary issue that will see the government sell off almost all of its remaining holdings in the former foreign savings bank. The issue is also expected to coincide with a listing on the London Stock Exchange. Syndicate members for the deal did not agree about how much the issue will raise, but conservative estimates put the total at around $380m.

* GZ Bank AG Rating: A1/A+/AA-

Reports that Matav is back in the market with its Eu600m acquisition financing caused confusion this week. "Some are saying that the company is back again whilst Matav says it is not yet taking bids," said one banker previously involved in the bidding for a Matav deal that was postponed because of Deutsche Telekom invoking a clear market clause. "The company is expected be back in the market soon, but I think it needs more time for the air to clear after the Deutsche Telekom deal."

A Spanish cement company is in the process of signing a euro2 billion ($1.75 billion) Euro-MTN programme after weeks of delays because of a negative rating outlook by Moody's. Valenciana de Cementos (Valenciana) will be signing before the end of the month via Deutsche Bank, but had plans for announcing the facility earlier. Moody's hindered its progress when it placed the Ba1 senior unsecured debt ratings of Valenciana, and its parent company Cemex, on review for possible downgrade. The action comes as a result of Cemex's $2.8 billion tender for the outstanding shares of Southdown, the second biggest US cement producer. But Moody's has said that if the transaction goes ahead as planned it will probably confirm the ratings of both companies. Cemex has a $1.25 billion Euro-MTN programme that it signed in 1991, but this is the first step into the debt capital markets for Valenciana. It will become the sixth Spanish issuer to join the market this year.