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diAx, the Swiss independent telecoms operator, is back in the market with a Sfr1.4bn senior secured credit facility through arrangers and underwriters Citibank/Schroders Salomon Smith Barney and Credit Suisse First Boston. The new deal comes just seven months after the company signed a Sfr700m project financing, arranged by CSFB. The latest deal is split between a Sfr1.25bn term loan and a Sfr150m revolving credit. Both tranches have an 8-1/2 year maturity. The deal is priced at 125bp over Libor for the first 24 months, after which the margin is linked to a debt-to-Ebitda grid and can drop to a low of 50bp if the ratio is less than 3:1.

DEUTSCHE TELEKOM set an impressive new benchmark for retail offers this week with the successful completion of a Eu15bn deal that caught the imagination of individual investors from as far afield as the US and Japan.

Czech Republic Citibank and SG are jointly arranging a Eu35m financing for Unipetrol subsidiary Chemopetrol.

* ABB International Finance NV Keepwell agreement from: ABB Asea Brown Boveri Ltd

Ford Motor Company this week pulled a planned $2bn-$3bn 30 year global bond offering, becoming the first high profile casualty of the recent avalanche of dollar bond supply. The deal was to have been priced this week, but Ford decided to cancel after seeing the spread on its outstanding 2031 bonds - which it had sought to reopen - widen by more than 15bp since the close of trading the previous Thursday.

ING Barings has appointed Lorraine Lodge as director and global head of convertible bond research, and Tareen Hussain as senior bond analyst. "We felt convertibles needed to be established on a global basis," said Richard Hoskin, global head of convertible bonds. "We want to offer a broad suite of products to clients, and convertibles are one of these.

ING Barings has appointed Lorraine Lodge as director and global head of convertible bond research, and Tareen Hussain as senior bond analyst. "We felt convertibles needed to be established on a global basis," said Richard Hoskin, global head of convertible bonds. "We want to offer a broad suite of products to clients, and convertibles are one of these.

ABN Amro has won the high profile mandate to lead arrange and underwrite a Eu4.307bn and £998m debt package for Interbrew to support the borrower's acquisition of the brewing businesses of Bass and Whitbread. The arranger is looking to quickley form a small group of joint arrangers, drawn from core relationship banks, underwriting the equivalent of Eu1bn. Banks invited at this level have until next Tuesday (June 27) to commit.

Morocco The arranging mandate for the long-term financing for the Médi Telecom project has been awarded to ABN Amro and SG. The Eu1bn deal will incorporate four tranches - an IFC tranche, an export credit agency covered tranche, a local currency facility and an uncovered international commercial tranche.

Industri Kapital has finally put an end to the Alfa Laval sale saga by agreeing to buy the separation, heat transfer and fluid handling firm from parent Tetra Laval. By doing so, the venture capital firm has spawned the largest ever Scandinavian management buy-out transaction and one of the largest in Europe.

Hong Kong Co-ordinating arranger BOCI Capital has launched a HK$1bn deal for Sino Land Co. Funds are being raised via Prime Reward Finance, a special purpose vehicle of Sino Land Co. The parent is providing a guarantee.

GERMAN engineering group ThyssenKrupp is expected to raise about DM3bn (Eu1.5bn) with an IPO of up to 35% of its steel unit this autumn, but analysts believe the issue will not be easy. "It is going to be a big challenge for ThyssenKrupp," said Yasuhiro Yamaguchi, a steel analyst at UBS Warburg. "In the short term there are two concerns that many investors express."