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n Bank Labouchere plans to launch its fourth securitisation of retail equity leasing contracts on Tuesday. The assets are contracts with private investors who borrow money from Labouchere to buy blue chip stocks on the Amsterdam stock exchange. Lease Assets Backed Securities III BV will offer two fixed rate bullet tranches rated triple-A by Fitch IBCA - Eu65m of 'A' notes due August 2003 and Eu270m of 'B' notes expected to mature in August 2004, with a coupon step-up to 100bp over Euribor if the deal is not redeemed.

Nomura's principal finance group this week completed the first in a series of securitisations to refinance its £980m acquisition of Thorn Plc, which closed last October. Now called Thorn Ltd, the company comprises Thorn UK, Thorn Nordic, the leading consumer rental company in Scandinavia, Thorn Australia, which has a similarly dominant position in Australia and New Zealand, and two other businesses.

The arrival of the euro has hit the US Yankee bond sector hard, with Europe's fast developing credit market providing an alternative and highly competitive source of funding for non-US corporate issuers.

New issue volumes are soaring in the US capital markets as investors soak up debt and equity offerings and as Wall Street's finest serve up an ever growing variety of products to tempt issuers and investors, at home and abroad.

Forgetting for a moment its ominous slide against the dollar, the euro has opened a new capital market for US borrowers to tap that offers a wealth of opportunities and challenges.

No one doubts that US investor demand for foreign equities is growing - or that accessing the US investor base is an important strategic objective for foreign companies.

The US high yield bond market has barely recovered from the traumas of the global debt correction of 1998.

China Chase Manhattan Asia has closed the $250m five year fundraising for Kodak China Co oversubscribed but it will not be increased. A group of about 15 banks has joined ahead of signing next week.

A string of placements headed by First Pacific and Legend highlighted the strength of sentiment toward Hong Kong and China this week while Goldman Sachs finally completed Shandong International Power Development's (SIPD) IPO after five years and four attempts.