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SB Leasing Company has dropped New Japan Securities Europe as a dealer off its $4 billion Euro-MTN programme. The following have been added as dealers: Zenshinren International, BNP Paribas and Credit Suisse First Boston. The programme has $1.30 billion outstanding off 136 issues and was arranged in 1997 by Daiwa SBCM Europe.

Peugeot Finance International and Banque PSA Finance have increased the ceiling off their $2.5 billion debt issuance programme to $4 billion. Greenwich NatWest has been dropped as a dealer, while Deutsche Bank has been added. The programme was signed in 1994 and is arranged by JP Morgan. It has a total outstanding of $2.85 billion off 63 trades.

Denmark

Market report:

* Bank of Ireland

* Merrill Lynch & Co Inc

Telefonica Europe has increased and redenominated its $2 billion debt instrument to euro8 billion ($7.2 billion). The programme was arranged in 1996 and has $1.2 billion outstanding off four trades.

* Bear Stearns Companies Inc

DEUTSCHE Telekom has postponed the IPO of its mobile unit T-Mobile because of investor concerns over which parts of US acquisition target VoiceStream would be incorporated into T-Mobile. The issue, which was to include 10% of T-Mobile, was expected to raise about Eu8bn this autumn. The potential acquisition, Telekom said in a statement, "makes the task of preparing the necessary listing prospectuses considerably more complex". T-Mobile was scheduled to list in both New York and Frankfurt.

Unilever surprised the market this week with a $7.35bn equivalent 13 month FRN in dollars and euros. After weeks of speculation surrounding the borrower's funding plans, the eventual launch of such a short dated transaction proved something of an anti-climax. However, few bankers contested Unilever's choice. The $6bn and Eu1.5bn floaters were priced at aggressive levels of dollar Libor plus 3bp and Euribor plus 10bp, which nevertheless generated overwhelming demand - over $14bn of orders were placed for the dollar piece. Such was US investors' enthusiasm for the money market product that the dollar tranche tightened through Libor in the aftermarket.

DEUTSCHE Telekom has postponed the IPO of its mobile unit T-Mobile because of investor concerns over which parts of US acquisition target VoiceStream would be incorporated into T-Mobile. The issue, which was to include 10% of T-Mobile, was expected to raise about Eu8bn this autumn. The potential acquisition, Telekom said in a statement, "makes the task of preparing the necessary listing prospectuses considerably more complex". T-Mobile was scheduled to list in both New York and Frankfurt.

Xerox Corporation has upped the ceiling off its $4 billion Euro-MTN programme to $6.5 billion. Credit Suisse First Boston has been added to the dealer panel. The programme was signed in 1995. There are 15 outstanding trades, totalling $2.79 billion.