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* Mobile phone retailer The Carphone Warehouse will raise about £250m from its IPO in July, giving the company a valuation of over £1bn. Credit Suisse First Boston and Morgan Stanley Dean Witter will be joint global co-ordinators for the deal, with MSDW acting as bookrunner. Merrill Lynch will be a co-manager. The deal will be priced during the first week of July. The UK market has been expecting the company, which operates 800 outlets in 14 European countries, to list for some time. However, Vanessa Tipple, a spokeswoman for the company, earlier this week dismissed reports that the company would issue equity as speculation. "The company has no plans to do so. It generates enough cash to finance its own growth," she said.

UNITED Pan-Europe Communications (UPC) has confirmed Chase Manhattan and TD Securities as the arrangers and full underwriters of a Eu4bn loan facility to allow it to refinance debt and build up its network. Part of the debt matures after eight years, the rest after eight years, nine months. It is made up of term and revolving tranches. The loan is due to be launched next week.

* Asian Development Bank Rating: Aaa/AAA

* Australia & New Zealand Banking Group Ltd Rating: Aa3/AA-/AA-

The dollar and euro markets offered reasons for optimism to borrowers and syndicate officials this week, with US markets stabilising after the previous week's 50bp rate increase and credit product in Europe attracting investors off the sidelines. Market participants are hopeful that should levels remain steady over the coming short week, borrowers may be able to take advantage of the new, albeit wider levels.

Lehman Brothers this week cut back plans for a high yield offering for Weigh-Tronix from Eu135m to Eu100m and raised the coupon from 11% to 12% as investors took fright over the amount of leverage on the company's balance sheet. And yesterday (Thursday) several potential investors in the transaction told Euroweek that they expected the deal to be pulled following a lack of new information from the bank since the mid-week sizing and pricing revision.

Lehman Brothers this week cut back plans for a high yield offering for Weigh-Tronix from Eu135m to Eu100m and raised the coupon from 11% to 12% as investors took fright over the amount of leverage on the company's balance sheet. And yesterday (Thursday) several potential investors in the transaction told Euroweek that they expected the deal to be pulled following a lack of new information from the bank since the mid-week sizing and pricing revision.

France Natexis Banque has arranged a £70m revolver for Gaz de France to support its acquisition of North Sea oil and gas fields from Ranger Oil and Lasmo.

* Deutsche Telekom International Finance BV Guarantor: Deutsche Telekom AG

Poland's BRE Bank put away a Eu200m five year floating rate note (FRN) issue yesterday (Thursday) through lead managers Commerzbank and Merrill Lynch, suggesting that the FRN may become the flavour of the month for emerging market debt. It was priced with a coupon of 37.5bp over three month Euribor and at an issue/reoffer price of 99.754.