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Hong Kong Pacific Century Cyberworks has mandated Credit Suisse First Boston as lead manager for a possible equity fundraising. The company was set up through a reverse listing, structured by BNP Prime Peregrine, and houses the property assets for the government's planned cyberpark.

The 25bp rise in the US Fed funds rate announced after the FOMC meeting on Tuesday set a constructive tone across all the markets, giving most participants confidence that rates will not be increased again before the end of the year. After several months of volatility, some semblance of stability returned to the dollar sector and a rally in corporate spreads allowed Wells Fargo to increase its global transaction to $1.5bn from $1bn. The deal, evenly split into two tranches of a two year FRN and a three year fixed rate bond, was led jointly by Bear Stearns and Morgan Stanley Dean Witter.

Bear Stearns and Morgan Stanley Dean Witter were joint lead managers for Wells Fargo's $1.5bn two year floater and three year bullet. The floating rate tranche was priced to yield Libor plus 20bp at the re-offer and the bullet tranche was priced at the tight end of expectations to yield 91bp over the off-the-run 6.25% August 2002 Treasury. The borrower was last week talked of as wishing to swap the three year tranche into floating; although the borrower could not be reached for comment, more than one shop confirmed that Wells Fargo had been asking for three year bids on Tuesday afternoon.

Rating: AAA Amount: Eu238.708m (fungible with Eu511.292m issue launched 10/03/98) Öffentlicher Pfandbrief series 125

France Salomon Smith Barney will launch syndication of the Ffr5.4bn senior leveraged debt backing the creation of Capital BSN Emballage SA out of the merger of Gerresheimer's and Danone's glass packaging business. Heavy interest is expected, after the success of the co-arranging phase which was immensely successful.

Denmark Loan market bankers are gearing up for the imminent launch of a $1bn acquisition related credit for AP Möller arranged by HSBC and JP Morgan. Market talk suggests the five year revolver will be priced at around 37.5bp over Libor.

Amount: Eu500m Öffentlicher Pfandbrief series 670 Maturity: August 30, 2005

Thailand will be in the running to reopen the Asian equity markets after the summer lull with three issues set to test the appetite for paper from the country. Siam Cement and Thai Farmers Bank look set to launch in two weeks' time, with Thai Military Bank possible a week later, according to bankers.

n World Bank Rating: Aaa/AAA

n Bayerische Hypo und Vereinsbank Rating: Aa2/AA-

n AIG SunAmerica Institutional Funding II