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Deutsche Bank and Goldman Sachs are poised to launch the long awaited IPO for Infineon with the Siemens spinoff set to raise up to Eu6bn, making the deal the world's largest offer for a technology company. While the issue is widely expected to be a blow-out, banks involved in the deal have already begun to grumble about the size of the syndicate - saying the 14 member group will prove unwieldy and prone to disputes.

Republic of Italy Rating: Aa3/AA/AA-

JAMAICA returned to the international bond markets this week for the first time since 1998 with a Eu100m three year debut euro bond. Although considered one of the riskier emerging market credits, Jamaica's lead manager Deutsche Bank was able to attract strong European retail investor interest by offering a 10% coupon and pricing the deal to yield 10.5%, giving a spread of 572bp over the OBL 126, equivalent to 589bp over the July 2002 BTAN.

BNP Paribas this week launched an innovative £69.4m securitisation for the UK's Keele University, backed by rents from its student accommodation. The 30 year bond, guaranteed by monoline insurer Financial Security Assurance (UK) Ltd (FSA), will enable Keele to retire £20.5m of existing debt secured on the buildings, cover the cost of refurbishing the accommodation for the life of the deal, and still leave some £10m of spare cash for other investment.

General syndication has closed on the Eu13bn jumbo for Dutch telecoms company KPN, and the loan market has completed another successful jumbo acquisition financing to back European corporate restructuring. Had the facility not been scaled back, and had all the banks come in for the exact amount requested, the six arrangers would have raised Eu27.15bn from 12 lead managers and 35 co-arrangers.

General syndication has closed on the Eu13bn jumbo for Dutch telecoms company KPN, and the loan market has completed another successful jumbo acquisition financing to back European corporate restructuring. Had the facility not been scaled back, and had all the banks come in for the exact amount requested, the six arrangers would have raised Eu27.15bn from 12 lead managers and 35 co-arrangers.

LAFARGE this week breathed new life into the European loan market as well as innovation into the European equity and M&A markets through its $3.4bn hostile cash bid for UK cement producer Blue Circle.

LAFARGE this week breathed new life into the European loan market as well as innovation into the European equity and M&A markets through its $3.4bn hostile cash bid for UK cement producer Blue Circle.

Mexico Syndication of the $61m loan for Mexican packaging company Aluprint SA de CV is going well and an oversubscription is expected.

THE REPUBLIC of Lithuania will next week start marketing the Baltic state's third euro bond to date. Joint bookrunners Credit Suisse First Boston and Deutsche Bank will host a series of public presentations and one-on-one meetings with investors in Zurich, Frankfurt and London from February 7-9, with the launch of a probable Eu250m five year transaction soon after. Deputy finance minister Dalia Grybauskaite will head the Lithuanian team in Switzerland and Germany, while finance minister Vytautas Dudenas presides over the London leg.

As the long running contest between Vodafone AirTouch and Mannesmann transforms from one of Europe's bitterest takeover sagas into an agreed merger, officials in the loan market await news of the launch into the next round of syndication of Vodafone's Eu30bn superjumbo. Some 11 banks hold Vodafone's deal on their books, but the group could be widened by the imminent launch of a co-arranger phase. At the beginning of the takeover battle bankers were predicting sub-underwriting co-arranger commitments of Eu1bn to Eu1.5bn, for a fee of 50bp.