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First time issuer Electronic Data Systems Corporation (EDS) attracted a staggering $9bn of orders this week for its $1.5bn first ever public debt offering as US investors, starved of supply, swamped the few new deals available. The global transaction, led by Merrill Lynch and Salomon Smith Barney, attracted more than 250 investors and was priced very close to the bid side of comparables with launch spreads of 94bp for a $500m five year tranche, 112.5bp for a $700m 10 year offering and 122bp for a $300m 30 year portion.

Market commentary Compiled by Jim Webber,

Crédit Foncier de France this week launched the first ever issue of obligations foncières, opening France’s new Pfandbrief style market and placing the new product closer to the massive German market than any other European mortgage bonds to date.

Crédit Foncier de France this week launched the first ever issue of obligations foncières, opening France’s new Pfandbrief style market and placing the new product closer to the massive German market than any other European mortgage bonds to date.

Slovensky Plynarensky Priemysel (SPP) this week became the latest Slovakian entity to take advantage of positive investor sentiment towards the country by making a debut in the euro bond sector. The Ba1/BB+ (Moody's/Fitch IBCA) rated gas transit monopoly launched a Eu150m five year offering via Paribas on Thursday afternoon, following the European Central Bank's decision to leave eurozone interest rates unchanged.

The Croatian government's sale of a strategic stake in the country's telco Hravtske Telekomunikacije (HT) reached a successful conclusion this week with Germany's Deutsche Telekom (DT) bidding $850m for a 35% share of the company, valuing it at $2.4bn. DT outbid its sole competitor, Nordic operator Telia/Telenor, which submitted a revised $641m offer.