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Czech Republic Sumitomo Bank has won the mandate to lead an Eu85m EIB guarantee facility for Czech power utility CEZ.

The European Investment Bank's bid to introduce transparency and liquidity into its sterling issuance programme was greeted with mixed reviews from the selling members of its newly appointed dealer group. On Wednesday, the supranational launched a £500m increase to its £1.125bn issue of 5.5% December 2009 bonds, under the lead management of Barclays Capital and Warburg Dillon Read. The issue inaugurated the eight-strong dealer group appointed last week and was the EIB's first e-bond in the sterling market.

The European Investment Bank's bid to introduce transparency and liquidity into its sterling issuance programme was greeted with mixed reviews from the selling members of its newly appointed dealer group. On Wednesday, the supranational launched a £500m increase to its £1.125bn issue of 5.5% December 2009 bonds, under the lead management of Barclays Capital and Warburg Dillon Read. The issue inaugurated the eight-strong dealer group appointed last week and was the EIB's first e-bond in the sterling market.

Brazil's Eletropaulo Metropolitana-Eletricidade de São Paulo SA launched a $250m 18 month issue of short term notes, a move greeted as further proof of the resurgent demand for Latin American assets. Issued through Cayman Islands registered SPV Metropolitana Overseas II Ltd and sole lead managed by Standard Bank London, the unrated issue had a 10% coupon to give a yield of 10.25% and spread of 384bp over US Treasuries on an issue price of 99.66. At Thursday's close in London the bonds had traded up slightly to be bid/offered at 99.70/100.

Salomon Smith Barney presented sterling investors with an unusual credit proposition this week - a bond backed by a variety of obligations of energy giant Enron Corp, structured to mimic the credit risk of Enron's senior unsecured debt. The £200m seven year transaction, issued by special purpose vehicle Yosemite Securities Co Ltd, is similar to a $750m five year deal Salomon sold in the US late last year through Yosemite Securities Trust I.

* Bankers Trustee Co Ltd will hold a meeting on Thursday next week for investors in Finance for an Italian Library of Movies Plc, the Lit475bn securitisation of revenues from an Italian film library that Merrill Lynch arranged for the Cecchi Gori media group in February 1998. BT is the deal's trustee. Fitch IBCA downgraded the deal's A- rating to BBB- in late January after Mediafiction, the newly created subsidiary of Cecchi Gori that holds a lease of business on the 1,200 films, failed for the second time running to make a scheduled quarterly rental payment on time (see EW 637).

Deutsche Genossenschaftsbank, the central banking institution for Germany's co-operative banks, is embarking on a campaign to bring the benefits of securitisation to the 2,148 mostly small banks in the sector. Frankfurt based DG Bank will begin, however, with the easier proposition of securitising mortgages originated by its mortgage bank subsidiary DG Hypothekenbank. The Eu1bn-Eu1.25bn transaction will be lead managed by DG and Lehman Brothers in March or April, and may prove to be the first synthetic securitisation of European residential mortgages to be publicly sold.

Bank Austria this week closed a second innovative securitisation of its ABS investment portfolio, transferring $650m of triple-A rated bonds off balance sheet in a deal arranged by Citigroup. In December 1998, the London branch of Bank Austria Creditanstalt International, the overseas banking arm of Bank Austria, became only the second institution to publicly issue a leveraged collateralised debt obligation.

The opening up of the Indian markets has been accompanied by the liberalization of regulations relating to the Indian foreign exchange and money markets.

KERRY PACKER'S Publishing and Broadcasting Ltd (PBL) is likely to bring Australia's first straight domestic corporate bond of the year to market at the beginning of next week with the launch of an A$200m offering. Led by ANZ, the Baa1/A- rated issue will either have a four or five year maturity, with indicative pricing suggesting a 10bp-15bp new issue spread over Broken Hill Proprietary's (BHP) July 2005 paper, trading around 55bp over swaps.

YET MORE feverish demand for Taiwanese technology stocks is expected later this month with the IPO on Nasdaq of GigaMedia Ltd. Goldman Sachs is sole lead manager and bookrunner for the placement. The issue is expected to record stellar demand. There has been a clamour for Taiwanese technology companies so far this year, and the Taipei bourse has surged since the new year. Bankers polled by Euroweek consider GigaMedia the ideal Asian conduit for global investors to take a slice of the broadband internet access market.

Beijing Capital International Airport shares fell on launch on the Hong Kong Stock Exchange this week. The stock dropped from the issue price of HK$1.87 to HK$1.79 by the end of the first day's trading as 111.7m shares changed hands. Bankers in Hong Kong believe that ABN Amro was active in the market this week trying to mop up the selling pressure.