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Paribas and Warburg Dillon Read have received an excellent response to the long awaited syndication of the Eu215m senior debt package backing the buy-out of the Mumm and Perrier Jouet champagne brands. The deal was finally launched last week, following three months of intense speculation concerning the structure and pricing. Interest was such that the arrangers said they had over 40 banks make reverse calls before the official launch. Banks have been invited to join at three ticket levels - Eu20m for fees of 45bp, Eu15m for fees of 35bp and Eu10m for 25bp.

Brazil this week moved away from its strategy of offering well priced and well performing euro-denominated bonds by issuing an tightly priced Eu600m two year transaction led by Dresdner Kleinwort Benson. The deal, offering a coupon of 8.25% and priced at 450bp over the Bobl, received mixed reactions, with some bankers commending the issuer for pouncing on aggressive, opportunistic funding. Others complained that it was too soon for Brazil to move away from its still developing image as a responsible borrower in euro.

Brazil this week moved away from its strategy of offering well priced and well performing euro-denominated bonds by issuing an tightly priced Eu600m two year transaction led by Dresdner Kleinwort Benson. The deal, offering a coupon of 8.25% and priced at 450bp over the Bobl, received mixed reactions, with some bankers commending the issuer for pouncing on aggressive, opportunistic funding. Others complained that it was too soon for Brazil to move away from its still developing image as a responsible borrower in euro.