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Danone Finance has issued its second and third note of 2001. The smaller of the notes is a euro11 million ($10.77 million) one-year trade that will be issued on April 2 2001. The note will pay a single final coupon. The larger trade is a euro100 million three-year FRN, which will be issued on April 5 2001. All of Danone's notes this year have been denominated in euro. Its other trade was a four-year euro79 million FRN. The note pays a final coupon of 3m EUR Euribor +19% and was lead managed by Morgan Stanley DW.

Shares in Datalogic, the Italian manufacturer of bar code readers and portable data collection terminals, rose nearly 10% on their first day of trading after the company's Eu52m IPO on Wednesday. However, they quickly slipped back to around issue price. The shares sold at Eu20 and got as high as Eu21.99. A banker close to the deal confirmed that the performance of the technology sector this year had hurt the issue, but he was pleased with how the deal had gone. "We were able to finalise the transaction and we have placed the shares with first class investors," he said.

Telecom Italia this week disclosed plans to launch a debut fixed rate bond, delaying a scheduled Eu1bn securitised transaction in favour of the senior debt offering. The deal, to be issued by Telecom Italia's wholly owned subsidiary Sogerim with the guarantee of Telecom Italia, is expected to raise at least Eu5bn and be split into tranches of five and 10 years.

Den norske Bank has concluded a £

Den norske Bank defied dismal equity markets today (Monday) to complete its Nkr4.3bn (Eu536m) secondary offer — the biggest ever placing of banking stock in Norway — at a slim discount to market price.

Dresdner Kleinwort Wasserstein (facility agent) and UBS Warburg (bookrunner) launched the syndication yesterday (Thursday) of the $4.3bn of loan facilities supporting the $17.6bn acquisition of De Beers, the world's best known and largest diamond producer, by DB Investments. The $4.3bn of debt is structured into two tranches. Tranche 'A' is a $3.3bn five year amortising term loan, while tranche 'B' is a $1bn five year revolving credit. Both tranches pay an initial margin of 100bp over Libor, and through the life of the loan margins ratchet according to net debt to Ebitda.

Croatia The Eu30m three year term loan for Splitska Banka, Croatia's third largest bank, arranged by DG Bank, pays a margin of 115bp over Euribor. Banks are invited to participate on four levels: Eu5m for 60bp, Eu3.5m for 52.5bp, Eu2.5m for 47.5bp and Eu1m for 42.5bp.

South Africa * Republic of South Africa

Nederlandse Waterschapsbank has raised the ceiling off its Euro-CP programme from euro3 billion ($2.66 billion) to euro10 billion. The programme has issued $2.97 billion off 74 trades.

Fannie Mae began a buyback of off-the-run Benchmark securities in the 30 year sector this week. On Tuesday, the US agency repurchased $300m of its 6.25% May 15 2029s, $85m of its 7.125% January 15 2030s, and $25m of its 7.25% May 15 2030s. The amounts reflect the value of the securities when launched, not what the agency paid for them. With the swap curve at its steepest levels of the year and both swaps and Treasuries rallying, long dated agency paper has been cheap against swaps, and the market was expecting the first repurchase to come in the 30 year sector. Fannie Mae is due to launch a new 30 year line in April.

* Anglo Irish Bank Corp Amount: Eu150m subordinated debt (increased 28/03/01 from Eu100m)