Search results for

THE MOOD in the US new issue market darkened again this week as the New York and Nasdaq stock exchanges suffered heavy losses, with banking and technology stocks bearing the worst of the decline. Although the success of Internet retailer eBay's Nasdaq listing last week had encouraged other companies to think about testing the market, the pick-up in confidence was shortlived.

* General Electric Capital Corp Rating: Aaa/AAA

6854

THE LATEST phase of the stockmarkets' downward spiral started not with a bang, but with a whimper. When, on Tuesday, all eyes turned to Fed chairman and global central banker Alan Greenspan to stop the rout with a 50bp rate cut, the response was just 25bp. Although some were hoping for a bigger cut and the equity markets promptly went into reverse again, the move sent a positive message to bond markets around the world and government bonds rallied strongly with record low yields attained in most major markets.

Norway Bayerische Landesbank has signed the Nkr500m (increased from Nkr300m) five year revolving credit for Sparebanken Eiker Dramen after a positive general syndication.

* European Investment Bank Rating: Aaa/AAA

There are no stories in this section this week

Sterling --------------------------------------------------------------------------------

* Royal Bank of Canada Rating: Aa2/AA-

TOKYO-MITSUBISHI International has made two new hirings to its capital markets origination team, continuing the steady build-up of its international operations. The news provided a glimmer of light in another week of gloom for Japanese financial institutions -- with Japan Leasing seeking bankruptcy protection, Daiwa laying off most of its overseas staff and Nomura suffering a downgrade from Moody's.

6861