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Argentina There are two levels of fees on offer for the $75m one year bridge facility being arranged by Santander Investment Securities Inc, Citibank NA, Banco Bilbao Vizcaya SA and Crédit Lyonnais for Empresa Distribuidora Norte SA (Edenor).

Italian borrowers have been quick to seize the opportunities presented by the new euro bond market, launching a series of benchmark transactions this year in a bid to expand their investor base across Europe and beyond. The country's leading corporate and municipal borrowers have been among the most active debt issuers from Europe - headed, of course, by Olivetti, whose audacious takeover of Telecom Italia has heralded the new era of corporate restructuring and M&A activity that is set to transform Europe's industrial landscape and financial markets.

The supply of German blue-chip equity is set to increase in the third and fourth quarter of this year as a large number of well-known groups, such as Hoescht and Siemens, spin off some of their subsidiary companies to concentrate on core assets. That has sparked a race between investment banks keen to secure mandates to distribute stock in these spun-off

Argentina's debt raising plans were dealt another blow yesterday (Thursday) when Standard & Poor's reaffirmed its BB rating but downgraded the sovereign's outlook to negative from stable. Despite a flight to S&P's New York headquarters last week by Argentine under secretary of finance Miguel Kiguel, the rating agency decided to downgrade the sovereign's outlook because of doubts that the next president could pass much-needed reforms after the October elections.

AMP Group Finance Services Ltd Guarantor: AMP Group Holdings Ltd

FOLLOWING the successful Dra364bn ($1.16bn) sale of stock in national telecommunications operator OTE, investors have been given their second chance to invest in Greece's stockmarket through the Dra77.4bn ($243m) sale of shares in Minoan Lines Shipping. Salomon Smith Barney and National Bank of Greece executed the sale, which involved the placement of 10,638,900 new shares in a bookbuilt primary offering to international and local institutional investors.

n ABB International Finance NV Guarantee: Keepwell agreement from ABB Asea Brown Boveri

Despite a correction on Wall Street early this week amid renewed fears over possible interest rate increases, it was a hectic week for new issues in the US primary equity markets. One of the largest internet IPOs to date, the $252m offering from online music distributor MP3.com, as also one of the most popular. Like Music.maker.com, which floated successfully two weeks ago, MP3 provides customised music CDs online at discounted prices to mainstream record stores.

Tecnost completed the debt financing of Olivetti’s take over of Telecom Italia this week, setting new benchmarks in the credit markets with the launch of the largest ever fixed rate euro bond from a corporate issuer.

Tecnost completed the debt financing of Olivetti’s take over of Telecom Italia this week, setting new benchmarks in the credit markets with the launch of the largest ever fixed rate euro bond from a corporate issuer.

The European corporate bond market reached a milestone in June this year when Tecnost, subsidiary of telecoms giant Olivetti, issued a Eu9.45bn floating rate note. The bond was a key component of Olivetti's breathtaking Eu60.4bn bid for Italy's recently privatised telecommunications company Telecom Italia, and set new benchmarks in Europe's credit and leveraged finance markets.