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  • n Banque Internationale à Luxembourg Rating: Aa2/AA
  • n Alliance & Leicester Group Treasury Guarantor: Alliance & Leicester
  • Lehman Brothers has executed a highly successful financing for Versatel, the Dutch mobile phone group, involving a flotation and a sale of high yield bonds. Bankers believe several other growth companies will take advantage of the burgeoning demand in Europe for hi-tech equity and high yield debt to tap the stock and bond markets in combined offerings.
  • Just when bond markets were beginning to recover from the swap and credit spread widening inspired by Fed chairman Greenspan's comments last week, US employment cost index data yesterday (Thursday) showing a tightening labour market halted the improvement. The higher than expected rise in the ECI is the kind of news market participants fear might prompt an imminent rate tightening in the US. Such renewed uncertainty spooked government bond markets.
  • US issuers look set to provide a welcome antidote to the traditional August lull in the coming weeks, with retailer Wal-Mart’s jumbo global bond remaining on track for launch next week despite a bearish Treasury market, prompted by fears of an imminent US rate hike.
  • US issuers look set to provide a welcome antidote to the traditional August lull in the coming weeks, with retailer Wal-Mart’s jumbo global bond remaining on track for launch next week despite a bearish Treasury market, prompted by fears of an imminent US rate hike.
  • Just when bond markets were beginning to recover from the swap and credit spread widening inspired by Fed chairman Greenspan's comments last week, US employment cost index data yesterday (Thursday) showing a tightening labour market halted the improvement. The higher than expected rise in the ECI is the kind of news market participants fear might prompt an imminent rate tightening in the US. Such renewed uncertainty spooked government bond markets.
  • France Arrangers Barclays and Crédit Lyonnais signed the $400m multicurrency reducing revolving credit for Framatome on July 26. The deal was oversubscribed, raising over $500m, but was not increased and lenders' allocations have been scaled back.
  • Argentina n Republic of Argentina
  • n Banca Popolare di Brescia Rating: Baa2/BBB+
  • Investors are eagerly awaiting a large number of European hi-tech flotations through listings on Germany's Neuer Markt and other second-tier markets such as France's Nouveau Marché and Italy's Nuovo Mercato. Exchanges in other European markets are keen to emulate the success of Germany's Neuer Markt - where new issues have raised more than Eu2.5bn this year, with a further Eu2bn to Eu3bn still to come.
  • n Bayerische Hypo- und Vereinsbank AG Rating: Aa3/A+