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Securitisation yet again demonstrated its power to cope with the most complex financing problems this week, as Royal Bank of Scotland placed £480m of bonds to fund Virgin Rail Group’s procurement of 53 hi-tech tilting trains.

The US primary equity markets are gearing up for a busy autumn, with several large deals in the pipeline. Market favourite Juniper Networks filed this week for the sale of some 5m shares which could raise over $1bn when completed, based on the Wednesday's closing price of $205. The company, a provider of innovative internet infrastructure systems, made its Nasdaq debut in June at $34 and has traded at over 500% of its offer price since. The appreciation in its stock price has given Juniper a market valuation of well over $8bn. The shares wobbled this week, dipping to $180 a day after filing, but recovered to $187 by Thursday afternoon.

Rating: AAA Amount: Eu135.885m (fungible with three issues totalling Eu764.122m launched 13/08/98, 04/12/98 and 04/05/99) Öffentlicher Pfandbrief series 955

Regus Business Centres, the largest provider of serviced offices in the world, has launched its flotation on the London Stock Exchange via global co-ordinator and bookrunner Merrill Lynch. The transaction should result in a float worth £250m-£300m, putting a market capitalisation on the group of around £1bn. All the shares being sold are new capital for the group, although the 15% greenshoe - if required - will be provided by shares held by the company's venture capital investors.

Rheinische Hypothekenbank won plaudits this week for its responsible approach in launching a Eu2bn five year global jumbo Pfandbrief, keeping the size digestible in the difficult market and avoiding the heavily supplied long end of the curve. Following on from Allgemeine Hypothekenbank's Eu5bn transaction of last week - which continues to trade well and attract buyers - Rheinhyp's deal has restored some confidence in the jumbo market after fears that oversupply and overambitious mortgage banks might push the market over the edge.

Rheinische Hypothekenbank won plaudits this week for its responsible approach in launching a Eu2bn five year global jumbo Pfandbrief, keeping the size digestible in the difficult market and avoiding the heavily supplied long end of the curve. Following on from Allgemeine Hypothekenbank's Eu5bn transaction of last week - which continues to trade well and attract buyers - Rheinhyp's deal has restored some confidence in the jumbo market after fears that oversupply and overambitious mortgage banks might push the market over the edge.

Rating: Aaa/AAA Amount: Eu2bn global bond Öffentlicher Pfandbrief series 798

n European Investment Bank Rating: Aaa/AAA

CESKA Sporitelna, which has been the subject of persistent rumours in the loans market this year, is still planning to bring a transaction. With old facilities due for refinancing, the bank may be forced into the market, regardless of the poor perception of the Czech banking sector. More concrete news could emerge as early as mid-September, despite all the delays earlier in the year.

Stephen West has taken up a new senior position in the debt capital markets division of Merrill Lynch in London. As foreshadowed in Euroweek, Merrill won the services of the experienced West in the face of strong competition.

n Bradford & Bingley Building Society Rating: A1

n Bayerische Hypo- und Vereinsbank AG Rating: Aa2/AA-