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MARKET opinion is sharply divided on the saleability of a planned $1bn 30 year global bond for Ford Motor Company, following an extensive roadshow by the company in Europe this week. As a result of the roadshow, which involved more than 75 investors, officials at A1/A rated Ford believe there is sufficient demand for the issue -- which would be the first global bond by Ford Motor Company, rather than its Ford Credit affiliates.

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Oman The co-arranging phase of the $100m three year revolving credit for the Commercial Bank of Oman should close over the next few days.

DUTCH telecommunications group Koninklijke KPN NV has signed a $2bn Euro-MTN programme and announced its intention to inaugurate the facility with a large Eurobond denominated in a major European currency when market conditions allow. The issue will be proceeded by a European roadshow. Programme arranger ABN Amro has been mandated to lead manage the transaction alongside Warburg Dillon Read.

INSURANCE RISK securities are providing fresh encouragement for professionals in both the insurance and capital markets who look forward to fundamental changes in the way corporate risk is allocated and distributed. Willy Hersberger, head of corporate marketing at Swiss Re New Markets, believes a new corporate risk financing market is evolving. "It is a market in which integrated risk financing solutions are shaped by blending both traditional and non-traditional insurance products, banking instruments, and capital market solutions," he wrote earlier this year.

* Merrill Lynch is to run the spin-off of Drott, the property arm of Swedish construction group, Skanska. The process will involve a straight share distribution to existing Skanska investors although there will be some scope to redistribute shares to new international and local Swedish investors.

Market commentary Compiled by Glenn Blackley,

Belgium Barclays and KBC are planning a presentation of the Bfr2.5bn credit facility backing the LBO of Alro Holdings on September 18.

BANK OF Tokyo-Mitsubishi and Dai-Ichi Kangyo Bank both postponed planned collateralised loan obligations this week as investors reeling from emerging market shocks demanded wider spreads. The deals suffered even though they are fully delinked from the banks' credit risk, and backed, in BTM's case, entirely by loans to US corporates which are not subsidiaries of Asian companies.

THE HOUSING Fund of Finland braved volatile bond markets this week to bring a FIM2.052bn ($380m) securitisation of social housing loans -- the first public European asset backed deal since the devaluation of the rouble sent markets spinning off balance two weeks ago. "We are delighted to have helped the Housing Fund to return with a large issue in a turbulent market and achieve an attractive cost of borrowing," said Christine Wahlsten, vice president in the capital markets division at Leonia Corporate Bank, which lead managed the deal jointly with ING Barings.

* Australian non-bank mortgage lender RAMS Home Loans Pty Ltd went ahead with its roadshow this week for a $500m mortgage backed Eurobond. A syndicate official at lead manager JP Morgan said the presentation had attracted a good response and the absence of other supply would help the deal, but the issuer was prepared to wait for markets to settle before launching.

SEVENTEEN institutions have expressed interest in the UK government's second £1bn sale of student loans. NM Rothschild, which is managing the sale, has sent them the preliminary information memorandum, and asked for indicative bids by October 9. "We are very pleased with the level of interest and quality of the candidates, which indicate an enthusiastic demand for the assets," said James Vaux, executive director at Rothschild.