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Landesbank Rheinland-Pfalz (LRP) signed a euro10 billion ($8.84 billion) multi-currency CP programme on September 22. Deutsche Bank won the arrangership. The programme has a special feature that allows notes denominated in euros to be listed on the Frankfurt stock exchange, at the investor's request. This is of particular benefit to German financial investors. Michael Hawighorst, treasurer at LRP, says: "We expect to raise between euro3 billion and euro5 billion before the end of the year and this volume should increase next year, but we do not think that we will have to increase the euro10 billion ceiling of the programme." Notes with tenors between seven and 365 days can be issued off the programme. LRP reveals that Deutsche Bank was appointed as arranger because it provided a full service, including acting as IPA. Hawighorst says: "Deutsche Bank offered so many services out of one hand, it made the process easier for us." The issuer had its long-term AA+ ratings dropped to AA by Standard & Poor's last December. LRP told MTNWeek in September that it has felt the effect of this downgrade, and it may "have to pay up for long-dated debt." However, the programme is rated P1 by Moody's, A1 by Standard & Poor's and F1+ by Fitch. The dealer group is Barclays Capital, Citibank, Goldman Sachs, UBS Warburg, the arranger and the issuer itself. LRP also has a $15 billion MTN programme, arranged in 1994 via Merrill Lynch. It is nearing its debt ceiling, with $11.49 billion outstanding off 105 trades.

Marionnaud Perfumeries' secondary offering was priced at Eu107 on Wednesday, raising Eu80m for the company. Crédit Agricole Indosuez was the sole bookrunner of the 14% capital increase, a decrease from the expected 20%. A greenshoe of 15% could be exercised on Monday, according to a banker close to the deal.

Mexico, fresh from the success of its recent buyback of Swiss franc denominated Brady par bonds, this week launched a potential multi-billion dollar repurchase of its other non-US dollar Bradys. The buyback, managed by JP Morgan, involves the repurchase of about $3bn equivalent of Brady par bonds denominated in Deutschmarks, Dutch guilders, French francs and Italian lire. The offer expires on October 17.

Kuwait United Bank of Kuwait (UBK) has pulled its debut $100m five year term loan from the market because of its merger with Bahrain Bank Al-Ahli Commercial Bank. The two banks are launching a new offshore banking unit in Bahrain. The merger will have UBK holding 67.38% of the equity. The Al-Ahli Bank will hold the remaining 32.62%.

Salomon Smith Barney has been added as a dealer to Mitsubishi Estate's $4 billion debt issuance programme. The dealer has sold $544.35 million-worth of debt for Mitsubishi Estate, representing more than half of the issuer's total outstandings.

Worldlink is banking on its unique technology getting investors' attention when the company lists on the LSE toward the end of the year. The Merrill Lynch led IPO is likely to raise around £70m of new money and the company should have a market capitalisation of between £120m and £130m on listing, according to Neil Riches, managing director of the company.

France Lead arrangers Credit Suisse First Boston and SG Investment Banking are looking to wrap up the selldown next week of a Eu225m seven year two tranche credit facility for Kaptech SA.

Morgan Stanley Dean Witter used its European commercial mortgage "conduit" programme this week to launch a highly successful securitisation backed by six shopping centres in medium sized towns and cities throughout the UK. The £462m deal, European Loan Conduit (ELOC) No 4 plc, is backed by a single loan that Morgan Stanley made to finance the sale of the properties by UK property company MEPC plc.

Valtion asuntorahasto, the Housing Fund of Finland, will bring its fifth and largest securitisation next week. Fennica 5 will be backed by loans to local institutions that build, buy and refurbish housing to rent out at below market rates.

Littlewoods plc, the retail and leisure group that is the UK's largest private company, has completed the first securitisation of home shopping receivables in the UK. RBS Financial Markets arranged the £300m deal through its asset backed commercial paper conduit Loch Ness Ltd.

Taiwan's technology stocks have been hit hard over the past six months, battered by political and sector concerns. But the next three months are set to be the busiest of the year as optimism grows. Mark B Johnson reports.

Financial technology is not just for economic objectives--it can be used for broader strategic and business management goals, too.