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THE KINGDOM of Sweden attempted to ensure that its government bond market offers an attractive investment alternative to the rest of the euro denominated market this week with the launch of a Eu2bn offering led by JP Morgan, Paribas and SBC Warburg Dillon Read. The issue was the first euro-denominated transaction to be structured as a domestic bond. The overwhelming response from a broad range of key institutional accounts in Europe and Asia helped to focus international investors' attention on Sweden's domestic krona market and on the improvement in its credit standing.

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INVESTORS' desire for the most liquid products possible spilled over into the corporate debt market this week as Ford Motor Credit launched the largest ever corporate global bond and General Motors launched a $1.6bn three tranche transaction which incorporated the first ever global long bond.

INVESTORS' desire for the most liquid products possible spilled over into the corporate debt market this week as Ford Motor Credit launched the largest ever corporate global bond and General Motors launched a $1.6bn three tranche transaction which incorporated the first ever global long bond. Ford's $3.25bn financing, via bookrunner Salomon Smith Barney and joint lead Bear Stearns, set two records for the international bond markets. At $2.25bn (increased from $1.5bn), its five year fixed rate tranche was the largest single corporate global; and at $1bn, it also issued the largest ever seven year floater. General Motors' return to the offshore dollar market after a 10 year absence was an equally remarkable achievement. Lead managers Bear Stearns and Merrill Lynch brought $500m each of seven and 10 year paper, as well as a $600m 30 year bond - the first corporate global to match the maturity of the US Treasury long bond.