Search results for

With European fund managers under pressure to increase their returns in the low yielding eurozone, the smarter investor is looking at the MTN market for opportunities to enhance yield.

The use of structured debt in the Euro-MTN market has never fully recovered from the shock of 1994, when investors took some stinging losses on complex derivatives-linked notes.

n Bank of Tokyo-Mitsubishi and Dresdner Kleinwort Benson announced this week that they have jointly set up an asset backed commercial paper conduit in Japan, primarily to securitise corporate trade receivables.

Thailand will be in the running to reopen the Asian equity markets after the summer lull with three issues set to test the appetite for paper from the country. Siam Cement and Thai Farmers Bank look set to launch in two weeks' time, with Thai Military Bank possible a week later, according to bankers.

FOUR technology issues from Taiwan are lined up for a September launch with Synnex Technology, Hon Hai Precision, Mosel Vitelic and CMC Magnetics all pre-marketed this week. ABN Amro and Jardine Fleming are joint leads for Synnex Technology's $200m GDR sale. The company is the country's largest distributor of IT and

There was a flurry of issuance this week in the Australian domestic market with the successful completion of a A$400m issue for AIG, a A$600m bond for GE Capital Australia and a A$300m launch for John Hancock. Salomon Smith Barney and Warburg Dillon Read lead managed the triple-A rated Kangaroo bond for AIG Sunamerica Institutional Funding, with Merrill Lynch and RBC DS as co-leads.

ABN Amro and Warburg Dillon Read will launch a roadshow for the sale of San Miguel's (SMC) A$1.3bn stake in Coca-Cola Amatil (CCA) next week. Jardine Fleming - which had been expected to lead the sale with ABN Amro when Euroweek revealed the sale plan in June - is not in the deal, for which there is no syndicate. Bank officials declined to comment.

Australia Pricing for the St George Bank auto loan securitisation deal came within the tight end of the range given last week. The A$571m issue for Crusade Auto Trust was the first pure auto loan securitisation from Australia and the first from a commercial bank.

Hong Kong Pacific Century Cyberworks has mandated Credit Suisse First Boston as lead manager for a possible equity fundraising. The company was set up through a reverse listing, structured by BNP Prime Peregrine, and houses the property assets for the government's planned cyberpark.

The 25bp rise in the US Fed funds rate announced after the FOMC meeting on Tuesday set a constructive tone across all the markets, giving most participants confidence that rates will not be increased again before the end of the year. After several months of volatility, some semblance of stability returned to the dollar sector and a rally in corporate spreads allowed Wells Fargo to increase its global transaction to $1.5bn from $1bn. The deal, evenly split into two tranches of a two year FRN and a three year fixed rate bond, was led jointly by Bear Stearns and Morgan Stanley Dean Witter.