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Thirty year old German engineering provider Triplan announced plans today to float on the Smax index. NordLB will manage the issue, expected to culminate in a listing on March 29.

The Turkish market has been quiet over the past 24 hours, with overnight rates falling to 139% on the stock exchange, the lira strengthening back through the Tl 1m/$ level and benchmark dollar bond spreads tightening to 976bp over Treasuries.

United Pan-Europe Communications (UPC), the Dutch cable company, could raise as much as Eu1.5bn when it launches a Eu1bn rights issue and a possible Eu500,000 private placement on April 2.

Two guaranteed investment contract-backed (gic) issuers have set up global debt issuance programmes in addition to their existing Euro-MTN programmes. Nationwide Life Global Funding (Nationwide) signed a $2 billion global debt issuance programme on February 7 and Principal Life Global Funding (Principal) set up a $3 billion global debt issuance programme on the same day. Credit Suisse First Boston (CSFB) and Salomon Smith Barney jointly arranged Nationwide's facility. The dealers off the programme are the arrangers, ABN Amro, Bear Stearns, Merrill Lynch, Morgan Stanley Dean Witter (MSDW) and UBS Warburg (UBS). And the dealers off Principal's facility are CSFB (the arranger), Bear Stearns, Lehman Brothers, JP Morgan, MSDW, Salomon Smith Barney and UBS. One dealer off both programmes says there has been a trend for gic-backed issuers to set up global shelves. She says they will use the global facilities for big syndicated trades and to reach a wide investor base, while the existing Euro-MTN shelves will be maintained to access European accounts and to issue private structured trades and floaters. John Hancock has already set up a debt programme for accessing the US domestic market which it uses along side its-Euro shelf.

Globals * Fannie Mae

* Australia & New Zealand Banking Group Ltd Rating: Aa3/AA-/AA-

Bayerische Hypo- und Vereinsbank AG tapped the five year segment of the Pfandbrief market this week with the launch of a Eu3bn global Hypothekenpfandbrief - the bank's largest jumbo to date. Bookrunners Deutsche Bank, HypoVereinsbank and Schroder Salomon Smith Barney were joined by a 12 strong co-lead group for the deal.

Linde is finding its arbitrage opportunities in the emerging market sector. It has issued a seven-year Czk350 million ($9.65 million) note via Salomon Smith Barney. It pays a fixed coupon of 6.75%. Its other notes this year have been four euro trades in the one-, two- and three-year sectors and a Polish zloty note going out to February 2006.

There has been a lull in terms of desk-swapping recently, but a storm has swept in. Robert Mohamed, after five years documenting Deutsche's MTNs, is returning to Merrill. He gets a healthy new pay cheque as well as a nice new title: head of money market origination. And Tarik Senhaji has left SG and MTNs. He is the second person to abscond in two weeks, but unlike JP Morgan's Rupert Lewis, who ran off to play in the snow in Chamonix, France, Tarik is settling for a life of hedonism on a derivatives desk somewhere. Good luck Tarik. The more content MTNers in the market were to be found living it up at Islandsbanki-FBAs Thorrablot party on Wednesday night. The whole Barclays crowd was there, with Nabil Abooze-alot, Apose-alot Saflekos and Oliver 'man mountain' Johnson all doing their best to outdrink each other in order to show new girl, Monja Blattner, just how MTNers let their hair down. Also there was CSFB's Simon Hill, Salomon's Richard Proudlove and Morgan Stanley's Klaus Svendsen. Having won MTNWeek's Best New Borrower Award in 1999 the FBA hosts, fronted by Bill Symington, decided to treat us all to dried haddock, shark meat and sheep testicles at Waterstones' Red Room in Piccadilly. But it was all a bit much for one young Thorrablotter, who got thoroughly blottoed and ended the evening redecorating the carpet. Leak thinks Simon Hill should have driven him home in his new Ferrari 550, but then again, can second -hand Ferraris go fast enough for London traffic?

Argentina BancAmerica Securities Inc and Santander Central Hispano Investment Securities are wrapping up syndication of a $275m USCP backup facility for Banco Rio de la Plata.

Two participants in the loan market have launched a new initiative to encourage increased depth, transparency and efficiency in the secondary loan market. The Loan Market Association (LMA), trade association for the loan market, and CreditTrade, the internet credit trading exchange, have jointly developed the LMA Loan Pricing Calculator

Memscap, a Franco-American telecoms component provider, has delayed its Eu117.6m IPO until March 1 and cut the price by 32% on Monday, after its comparables lost 25% to 45% over the last eight days.