Search results for

UK retail bank Northern Rock returned to the mortgage backed market this week with a huge deal that would have broken records for size until this year, and still managed to push pricing in to levels tighter than comparable issues have enjoyed since the middle of 1999. The £1.3bn issue was led, like Northern Rock's two other MBS, by JP Morgan.

Denmark HypoVereinsbank has been mandated as adviser and arranger on a $200m financing to develop the Nalunaq gold mining project.

Denmark UBS Warburg is premarketing the $200m IPO of biotech company Genmab. The company, 45% owned by US company Medarex, will list on the Denmark exchange and the German Neuer Markt. Medarex has a volatile history on Nasdaq where it is listed.

* Banca delle Marche SpA Amount: Eu200m

* AIG SunAmerica Institutional Funding III Ltd Rating: Aaa/AAA

Marconi's decision to use the now rare Yankee bond structure paid off this week when it was able to increase the size of its deal from $1.5bn to $1.8bn and tighten pricing. The deal, led by Morgan Stanley Dean Witter, surprised the markets for being sold exclusively to the US, rather than being launched through the more popular global bond route.

REACTING to the opportunities for fixed income expansion presented by the success of the euro, bulge bracket firms have been hiring heavily in European fixed income sales. Morgan Stanley Dean Witter has recruited a team of five to its fixed income corporate derivatives marketing, bringing the number covering European corporates and sovereigns derivatives up to 20.

Freddie Mac won a resounding victory in its attempt to add euro investors to its arsenal of funding sources this week when it sold Eu5bn of 10 year EuReference Notes, gaining many supporters across Europe through its pragmatic approach to the market.

Freddie Mac won a resounding victory in its attempt to add euro investors to its arsenal of funding sources this week when it sold Eu5bn of 10 year EuReference Notes, gaining many supporters across Europe through its pragmatic approach to the market.

Caisse Centrale des Caisses d'Epargne et de Prevoyance has signed a euro10 billion ($8.59 billion) Euro-MTN programme via Deutsche Bank. The French financial is no stranger to the international capital markets. This year it launched three FRNs in the public market that total $2.15 billion. The issuer becomes the ninth French issuer to join the Euro-MTN market this year, following a flurry of French corporate signings this summer. It is rated Aa2 by Moody's and AA by Standard & Poor's. The dealers are the arranger, the issuer, ABN Amro, BNP Paribas, CDC Marches, Merrill Lynch, Morgan Stanley Dean Witter and UBS Warburg.

General Electric Capital Corporation has dropped Enskilda as a dealer off its $5 billion Euro-CP programme. GE Sovac has been added to the dealer panel.

* Deutsche Post has delayed the announcement of its half year results, and with them the details of its forthcoming Eu5bn IPO, because it has increased its stake in DHL. Post already held a 25% stake in the courier, but has increased this to a controlling stake. The move is likely to set the listing, due about November 6, back a couple of days, according to a senior syndicate official.