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* Bank Nederlandse Gemeenten - BNG Rating: Aaa/AAA/AAA

* CAM Global Finance Guarantor: Caja de Ahorros del Mediterraneo

US dollar swaps traded in an unusually narrow range this week, not topping 105bp at 10 years and not breaking 100bp on the downside. Prices closed at the tight end of these levels, with 10 year swaps at 101bp and five year swaps at 72bp. There was some offer side pressure - led, say dealers, by Goldman Sachs - at 30 years towards the end of the week. Spreads came in to about 117bp on Thursday from a previous close of 121bp.

WITH HIGH grade markets slow ahead of the ECB's Thursday interest rate meeting and US labour figures due today (Friday), Latin American sovereigns took centre stage. Mexico and Venezuela provided the highlights of the week with Eu1bn 10 year and Eu500m five year transactions respectively. Next week attention will turn towards eastern Europe where several sovereigns are readying issues.

THE REPUBLIC of Venezuela made a popular debut appearance in the euro denominated bond markets yesterday (Thursday) with the launch of a Eu500m five year issue via Credit Suisse First Boston and JP Morgan. Launched on the back of positive feedback from a non-deal specific roadshow in Europe last week, the issue - B2/B rated Venezuela's first international bond since before the Russian crisis in August 1998 - featured a 10.5% coupon to give a yield of 10.67% and spread of 556bp over the 4.25% February 2005 Obl, or 549bp over the 5% July 2005 Btan.

* 3CIF - Caisse Centrale du Credit Immobilier de France Rating: A1/A+/AA-

France General syndication of the Eu594.35m refinancing of an LBO facility for Elior should be launched after the company's planned IPO in early March.

Europe * Colonnade Securities BV Series 2000-1

Australia Arrangers ANZ Investment Bank, ASB Bank, Bank of New Zealand and HSBC are providing a credit facility backing Sky City's A$180m acquisition of Adelaide Casino.

Market report: Compiled by Glenn Blackley,

Who shot Eamonn McConnell, the greatest living Irish-Canadian since Matt Barratt at Barclays Bank or Molly Malone's father, the legendary 'Moose' Malone? McConnell was not only a major revenue producer and a bond market wizard, but until this week, he was seen as one of Edson Mitchell's brightest stars in an otherwise cloudy Deutsche Bank universe.

PowerGen, the UK energy utility, is the latest borrower to come to the loan market for a jumbo acquisition financing. It has awarded a mandate to Deutsche Bank, Dresdner Kleinwort Benson (books), HSBC (agent), JP Morgan and Warburg Dillon Read (books) to arrange a $4bn loan in support of its $5.4bn acquisition of LG&E Energy Corp, a US energy group. The five banks have level status, and have split the underwriting between them equally. PowerGen is to pay $3.2bn cash, a 58% premium to the share price when the markets closed last Friday. It will also assume $2.2bn of debt from the target.