Search results for

Daily value at risk (DVAR) has grown in importance and has become the standard in evaluating the risk attached to a trader's position.

Korean analysts have expressed fears that some of the banking sector deals in the pipeline will not make it to market in the wake of the disastrous $1bn issue for Hanvit Bank a fortnight ago. Falling confidence in the Korean banking sector and a crisis-ridden Daewoo Group helped force Hanvit Bank to price its GDR offering at a 21% discount to the local stock. Hanvit is a major creditor of Daewoo.

St George Bank underlined the growing depth and diversity of Australia's domestic securitisation market with this week's launch of the country's largest auto loan securitisation to date. Scheduled to price today (Friday), the A$571m deal for Crusade Auto Trust ranks as the first pure auto loan securitisation from Australia and the first ever from a domestic bank.

Telecom and technology-related floats had a mixed week in Australia, with Hutchison Telecommunications proving a storming success on its debut while TVSN performed poorly. Global scepticism regarding internet stocks explained the difference in trading performance of the two issues, said bankers.

Australia Syndicate positions for the Telstra's secondary stock sale will be revealed on Monday. The A$18bn deal is due to be launched at the end of September and will be sold in four tranches.

Expect news early next week on a large syndicated facility for a UK financial institution. The second of the two, long awaited, regulatory driven sales of generating assets held by the two main UK generators - Power Gen plc and National Power - has been effectively concluded.

n DaimlerChrysler NA Holdings Guarantor: DaimlerChrysler AG

Dutch publisher VNU injected new vigour into the vibrant European acquisition finance market this week, mandating ABN Amro and Merrill Lynch to arrange a $3bn bridging loan to fund its $3.5bn purchase of Nielsen Media Research, the US-based TV ratings company.

The autumn new issue season in the euro sector will start with a bang next week with Allgemeine Hypothekenbank leading a slew of deals with its Eu5bn jumbo Pfandbrief. The issue will be launched on Wednesday via joint bookrunners ABN Amro, Deutsche, DG Bank, Dresdner Kleinwort Benson and WestLB. Bankers also expect Mannesmann's five year Eu2bn issue to emerge next week via a lead management group of Deutsche, Dresdner Kleinwort Benson and Warburg Dillon Read.

The Royal Bank of Scotland will next week launch its £480m securitisation of train leases for West Coast Train Finance. A London investor presentation yesterday (Thursday) capped two and a half weeks of roadshows for the bond, which will finance the acquisition of 53 new high speed trains for the London to Manchester and Glasgow train lines, operated by a Virgin Rail Group owned company. Bookrunnner and lead manager RBS is to price the 10.5 years average life bond toward the end of the week. Market talk suggests a price range of 170bp/190bp over the 2012 Gilt, although RBS syndicate officials did not return calls seeking confirmation.