EURO BONDS-ING Santander Banco Popolare CRH Ladbrokes

Wed Feb 24, 2010 10:45am EST Related News EURO BONDS-UBI Banca, Barclays, GE Capital European FundingTue, Feb 23 2010EURO BONDS-Bank of Ireland, NRW.BankMon, Feb 22 2010EURO BONDS-Banca dell Marche, WestLBFri, Feb 19 2010EURO BONDS-Ladbrokes, Pohjola BankThu, Feb 18 2010What us, worry? Banks double down on riskWed, Jan 27 2010 Stocks & &

LONDON, Feb 24 (Reuters) - News, details on corporate bondissues in the European markets on Wednesday:

Stocks&&&&Currencies&&&&Bonds

ING (ING.AS)

Mandate: The Dutch bank plans a five-year, 1.25 billion eurosenior unsecured benchmark fixed-rate bond, an official at INGsaid. Books have exceeded 1.5 billion euros.

Guidance: Mid-swaps plus 105 bps, at the tight end of aninitial range of plus 105 to 110 bps.

Managing banks: Barclays Capital, Credit Suisse and ING.

Ratings: Moody"s Aa3, SP A+, Fitch A+

BANCO SANTANDER (SAN.MC)

Mandate: The Spanish bank plans a 5-year benchmark seniorunsecured euro bond, to be launched in the near future subjectto market conditions, an official at one of the banks managingthe sale said.

Managing banks: Barclays Capital, Credit Suisse, Natixis andSantander.

Ratings: Moody"a Aa2, SP AA, Fitch AA.

BANCO POPOLARE (BAPO.MI)

Issue: The Italian bank is launching a 1 billion euro 7-yearcovered bond, sources close to the deal said. [ID:nWEB1968]

Guidance: Indicated in the "low 80s" in basis points overmid-swaps.

Managing banks: LBBW, Natixis, Royal Bank of Scotland, UBSand Aletti, as reported by IFR Markets, a Thomson Reuters onlinenews and market analysis service.

CAISSE DE REFINANCEMENT DE L"HABITAT (CRH)

Issue: Plans to add to its existing covered bond issue of3.145 billion euros of 4.25 percent due October 2014, said IFRMarkets.

Guidance: mid-swaps plus 25 bps area

Managing banks: Barclays, BNP Paribas and HSBC

Rating: Moody"s Aaa

LADBROKES (LAD.L)

Issue: Britain"s biggest bookmaker is issuing a 7-year 200million pound bond, which is due to price later this week, IFRreported. Final size is dependent on results of a buy-backtender of the firm"s $250 million 7.125 pct notes due 2012.

Price talk: to yield 7.625-7.875 percent

Managing banks: Royal Bank of Scotland and Barclays.

Ratings: Moody"s (LC) Ba2, SP BB, Fitch BB+

SWEDBANK (SWEDa.ST)

Mandate: The Swedish bank plans a three-year seniorunsecured benchmark euro bond, said an official at one of thebanks managing the sale.

Guidance: Mid-swaps plus 133 to 135 basis points, IFRreported.

Managing banks: Bank of America Merrill Lynch, Barclays,Deutsche Bank and Swedbank.

Rating: Expected to be rated A2 by Moody"s and A by SP.

LF HYPOTEK

Mandate: plans debut benchmark euro covered bond, to belaunched subject to market conditions following a pan-Europeanroadshow, an official at one of the banks managing the salesaid.

Managing banks: Credit Suisse, Danske Bank, Deutsche Bankand Royal Bank of Scotland.

SBAB [SBAB.UL]

Issue: The Swedish state-owned mortgage lender plans a2-year floating rate benchmark euro bond, IFR said.

Guidance: Three-month Euribor plus 50 basis points area.

Managing banks: Danske Bank, HSBC and UBS.

(London Corporate Finance: +44 207 542 8389)

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Labours defame law reforms to embody new open seductiveness counterclaim for journalists

Frances Gibb, Legal Editor, and Hannah Devlin & , : {}

A new public interest defence for responsible journalism will be included in reforms to be brought forward if Labour wins the election.

Jack Straw, the Justice Secretary, said that ministers were convinced that libel law reform in England and Wales was needed amid concern that existing legislation had a chilling effect on freedom of expression.

In a Commons written statement, he said that the Government would set out its proposals for change in a draft Bill to be published early in the new parliament.

A curb on foreign libel claimants using English courts in the hope of big payouts is also being considered. This will include seeking a tightening of the rules whereby the courts permission is required to serve defamation cases outside England and Wales. This would help head off inappropriate claims at the earliest stage and stop them from reaching court.

Related LinksFair commentWrestling with the libel hydraIslamic cartoon row is latest case of libel tourism

Other measures could include the introduction of a single publication rule which would mean that libel claims would have to be launched within a year of the original publication.

Mark Stephens, a media lawyer with Finers Stephens Innocent, said: We like to think of ourselves as an advanced liberal democracy, but these are welcome and much needed reforms go some way towards addressing the concerns expressed by the UN Human Rights Committee Concluding Observations, as to the UK"s failure to comply with international minimum standards of free speech.

AstraZeneca inks initial general drug deal

Rhys Blakely in Mumbai & , : {}

AstraZeneca currently denounced the initial partnership with a generics drug maker, a move that gives it a uninformed portfolio of poor medicines to sell in building markets as it braces for the loss of patents on multiform blockbuster medicines.

The Anglo-Swedish association will primarily be granted with eighteen general medicines made by the Indian organisation Torrent Pharmaceuticals.

Astra will supplement the own code to those drug in an bid to captivate brand-conscious consumers and doctors in building markets.

The arrangement, the monetary conditions of that were not disclosed, will primarily cover 9 countries.

Related LinksAstraZeneca to strew 1,000 British jobsAstraZeneca gambles on new arthritis drugAstraZeneca pays 505m to solve taxation brawl

The tie-up underscores how Western drug makers are looking to enlarge their footprints in poorer countries as a host of their majority remunerative medicines lose obvious protection.

Patents on 7 Astra drug will end in the subsequent 4 years. They will embody the 3 greatest sellers: Nexium, an ulcer treatment; Seroquel, an anti-psychotic; and Crestor, an anti-cholesterol drug.

The association warned last month that the loss of those patents might lead to a duration of vacillating earnings".

AstraZeneca is looking to progress sales in rising markets to twenty-five per cent of annual income by 2014, from thirteen per cent last year, in piece to minimise the stroke of obvious losses.

Tony Zook, head of AstraZenecas tellurian business, said: "In markets where consumers and physicians have a clever welfare for devoted brands, we hold AstraZenecas long-standing repute for peculiarity is a tolerable rival advantage.

Torrent Pharmaceuticals has dual large production plants in India, together able of producing some-more than 6 billion tablets a year.

hair wig

Rafael Benitez sets his sights on majority critical esteem at Liverpool Liverpool

Tony Barrett, Lille & , : {}

One of the defining facilities of Rafael Benitezs reign as Liverpool physical education instructor is that his group regularly has something to fool around for in the shutting weeks of the season.

In prior years it has been the Champions League, the FA Cup or, last season, the Barclays Premier League title. This season, though, the esteem is even some-more changed the clubs evident future.

Off the pitch, the query for desperately indispensable investment continues, with the odds that it will not interpretation with the ousting of Tom Hicks and George Gillett, the co-owners. Rather, they will sell a minority stake, permitting them to revoke the clubs 237million debt, as demanded by the Royal Bank of Scotland, their creditors.

On the pitch, Liverpools form in the shutting weeks of the debate will establish either they are means to win a place in subsequent seasons Champions League by finishing in the Premier Leagues tip four. Failure to do so will not usually have a deleterious outcome on intensity income streams, but will additionally lessen Liverpools radiance in the eyes of probable signings and leave multiform of their players introspective their future.

Related LinksGerrard debate adds to Benitez"s woesBenitez defends Gerrard over "gesture"The right to know

So most at interest and since their unsatisfactory form up to this point so small to be certain about. If improved at Wigan Athletic on Monday night was painful, afterwards the outcome of Dave Whelan, their chairman, the following day that Liverpool are in a disaster contingency have harm even more, since of both the source and the accuracy.

It is opposite this backdrop that Rafael Benitez takes his group in to the Europa League round-of-16 tie opposite Lille in France. The Liverpool physical education instructor concurs with the flourishing feeling that the entrance months will be consequential to both himself and the club.

I determine with that, Benitez said. We speak about investors, we speak about the new stadium, we speak about all these same things for may be one or dual years now. Everybody is watchful for something to occur and awaiting something to happen. The main thing for me is to try and combine on the football and get the most appropriate out of the players.

I have some-more report and may be a improved picture. But again, when I motionless to stay I motionless to fight, and the most appropriate for the bar is for me to be strong on football and to try to get the most appropriate from the players.Thats something I can do and something I have to do for the fans and the club.

I have certainty we will swell in both competitions and do the right thing. If we cannot, everybody will contend the a bad season. But all clubs have a bad season. We would have to move brazen and hope for for the future. We are already you do that, with immature players entrance in, and we will go on to do the same.

I have to do the right things for the fans. But at the same time I have to do the right things inside the bar for the people who have the decisions. We have to win the subsequent diversion and if we win afterwards everybody will be happier. It depends on the staff right away and it depends on the players.

Benitez knows that Lille, who kick Fenerbahce, of Turkey, in the prior round, will poise a challenging separator to Liverpool and he is seeking to his players to arrangement the kind of care that was so sorely not in in improved at Wigan.

Last deteriorate the same players were you do well, Benitez said. It is regularly simpler when things are going well. Now we have done a little mistakes. I dont similar to players display beating with physique language, the not certain but each player is different. It is critical to show care and to move people on board. It is critical to show the right proceed to your team-mates and we have pronounced we wish to urge this.

Lille (possible; 4-5-1): M Landreau F Beria, Emerson, R Costa, Y Cabaye A Chedjou, R Mavuba, F Balmont, S Dumont, E Hazard P Frau.

Liverpool (possible; 4-2-3-1): J M Reina G Johnson, J Carragher, D Agger, E Insúa Lucas Leiva, J Mascherano D Kuyt, S Gerrard, R Babel F Torres.

Referee: C B Larsen (Denmark).

hair wig

US infantry withdrawing from Haiti World headlines

US armed forces soldiers bucket their duffels before to their depart from Haiti at the general airfield in Port-au-Prince. Photograph: Andres Leighton/AP

Thousands of US infantry are withdrawal Haiti in a quick scaling behind of US infantry impasse in post-earthquake security and reconstruction.

A light rebate from a rise of 20,000 in early Feb has took off in new days and by the finish of this week fewer than 8,000 are approaching to sojourn in Haiti and on offshore vessels.

"Our mission is mostly accomplished," General Douglas Fraser, head of US Southern Command, that runs the Haiti mission, told reporters.

Many Haitians are not so sure. Survivors from the twelve Jan upheaval disturbed that the withdrawal signalled loss general await and that UN infantry and Haitian infantry would onslaught to keep security.

"I would similar to for [US troops] to stay in Haiti until they reconstruct the nation and everyone can go behind to their house," Marjorie Louis, 27, a mom in a temporary stay at the inhabitant stadium, told Associated Press.

Another family sheltering underneath a tarpaulin at an additional stay agreed. "They should stay since they have been you do a great job," Lesly Pierre, 35, said. "If it was up to the government, we wouldn"t have gotten any assistance at all."

The 7.0-magnitude upheaval ravaged the collateral Port-au-Prince and, according to the authorities, killed some-more than 200,000 people and left 1.2 million homeless, about half of whom are vital in beggarly camps.

With simple infrastructure broken and the UN and Haiti"s supervision paralysed the US infantry took carry out of ports and airports and assist distribution. The infantry were welcomed by a stricken race beholden for any help.

However a little assist agencies, particularly Médecins sans Frontières, complained that infantry flights hogged the airfield and diverted municipal assist aircraft to the beside Dominican Republic. French and Italian officials pronounced the US involvement was awkward and overweening.

Leftist leaders such as Venezuela"s Hugo Chávez and Cuba"s Fidel Castro indicted the US of conducting an majestic function underneath a charitable banner.

Despite drawn out craving and filth – that could wear with the approaching stormy deteriorate – the feared fall in law and sequence did not materialise.

The incident stays potentially volatile. Last Friday crowds looted a UN food procession travelling from Gonaïves to Dessalines. There is a subject symbol over the Haitian infantry and 10,000-strong UN force"s capability to fill the opening left by shrinking US troops.

It was misleading how majority US infantry would sojourn over entrance months. Of the 8,000 still on the Haiti mission about half were offshore.

Prospery Raymond, nation physical education instructor for Christian Aid, pronounced what people indispensable majority was food, purify H2O and competent shelter. "Once simple needs have been supposing for, there will be no complaint with security. A infantry participation is really costly, Christian Aid would rather see that income destined towards the needs of the Haitian people."

Ulster Unionist celebration policing assembly with Martin McGuinness breaks down after 3 mins Politics

Martin McGuinness: row. Photograph: Paul McErlane /Paul McErlane

A public in in between the Ulster Unionists and Northern Ireland"s emissary initial apportion directed at securing the party"s await for the devolution of policing and probity pennyless down in severity this evening.

The confront in in between Martin McGuinness and a UUP commission lasted all of 3 mins at Stormont.

The ultimate row comes on the eve of a vicious opinion in the Stormont public on transferring probity and policing powers from London to Belfast. The UUP has indicated it will not await the last action of devolution since they hold the complete power-sharing senior manager is dysfunctional.

Sir Reg Empey, the UUP leader, told the Guardian last month his celebration would not await the send of these powers unless it performed concessions on preparation – privately the influence of educational preference to abbreviation schools at 11.

Following the aborted public today, the UUP expelled a matter condemning both McGuinness and Peter Robinson, the initial minister, who is personality of the opposition Democratic Unionist party. The UUP claimed it had been ejected from the emissary initial minister"s office.

A UUP orator said: "An unpleasant emissary initial apportion attempted to aggressively harangue the Ulster Unionist celebration on policing and justice. He ridiculously indicted us of being an anti-agreement party. Our commission dynamically reminded the emissary initial apportion that we were the celebration that brought power-sharing supervision to Stormont.

"Quite obviously gainsay and feud are unsuitable to Sinn Féin – unfortunately for Mr McGuinness, a celebration choosing by casting votes opposite a suit with that it disagrees is basic, normal approved politics."

The orator combined that McGuinness"s "angry and assertive try to lecture" the UUP was "wholly unacceptable".

"When challenged on his tone, the public pennyless down. The UUP will not take lectures on the joining to devolution from Martin McGuinness.

"If this is how Sinn Féin understands power-sharing, afterwards it is small consternation that the [Northern Ireland] senior manager is dysfunctional."

If the DUP and Sinn Féin press forward with the opinion it is rarely expected that the personality of the centrist, non-denominational Alliance party, David Ford, will turn the initial probity apportion for Northern Ireland.

The SDLP will behind the send of policing and probity powers in the Assembly tomorrow. However the jingoist celebration is indignant that it is not being offering the probity ministry. Under the manners ruling the hand-out of ministries in the power-sharing supervision the SDLP are strictly entitled to select the subsequent ministry.

The celebration opposes the appointment of Ford as probity apportion but will still await the send of these powers as they wish to be seen to go on to behind the power-sharing arrangement.

Gove promises most appropriate schools an Ofsted-free destiny Education

Shadow preparation cabinet member Michael Gove promises to acquit headteachers. Photograph: Richard Saker/Rex

The Tories betrothed the majority appropriate state schools in England now that they would shun visits from inspectors.

Schools already judged to be superb would be spared serve Ofsted inspections underneath a Conservative government, unless their formula fell dramatically, scores of teachers left, or outrageous numbers of relatives complained, Michael Gove, the Tory shade preparation secretary, said.

Central supervision would guard superb schools rather than Ofsted, he told a entertainment of some-more than 150 headteachers in Westminster.

And fervent to convince the tip schools to spin academies, Gove affianced to throw internal authorities" energy to halt a propagandize branch in to an academy (a state propagandize outward internal management control).He pronounced he would repudiate relatives the possibility to list on either they longed for their child"s propagandize to convert.

But training unions warned these proposals would lead to academies carrying no burden and relatives carrying small contend in their children"s education.

Gove vowed that if the Tories won power, he would pass legislation by Jul that would concede superb schools to free as academies as early as September. Under a Tory government, an academy would not need a unite and would not have to shift the ruling body, Gove added.

Unlike alternative schools, academies would be free to outlay the income they perceived per student as they saw fit, he said. "You can be captains of your own ships and take the income that internal authorities outlay on your interest at the moment," Gove told the headteachers. "The some-more of you who take these freedoms, the better. I hold in liberating you to assistance the young kids in your care."

Gove asked the heads, all of them from schools judged to be outstanding, to cruise "taking over" a unwell first propagandize in their area.

He pronounced a Conservative goverment would pouch the heads of schools that had been in "special measures" – the majority critical difficulty of regard – for some-more than a year. The Tories would throw the eighteen measures that Ofsted uses to decider schools and reinstate them with 4 criteria: peculiarity of teaching, customary of leadership, poise and reserve of pupils, and tutorial results.

Gove said: "We will rught afar shift the law so that we can set hundreds of great schools free from domestic division and capacitate them to assistance struggling schools. We contingency meddle most progressing as a republic to mangle the infamous round of tutorial failure. That equates to utilizing the impetus the academies transformation brings to spin around underperformance and lift standards."

Teachers gave his proposals churned reception.

Christine Blower ubiquitous cabinet member of the National Union of Teachers, the largest teachers" union, warned that schools" burden would be undermined.

"To cut academies afar from internal management await will lead to a critical fragmentation of the preparation system, and leave schools but the critical await they need," she said.

"The new academies will be run with small or no burden measures in place, and will take afar parents" rights to have any contend in the approach their children"s schools are run. What relatives wish is the declaration that they can send their young kids to a great internal school, but his proposals are not the approach to grasp it."

Mary Bousted, ubiquitous cabinet member of the Association of Teachers and Lecturers, pronounced there was no justification that academies combined worth or supposing anything that an additional similarly saved propagandize could not.

She lifted concerns about Gove"s investigation proposals, too. "If superb schools are not inspected, who is going to confirm they are superb and so do not need unchanging inspections? We hold there would be some-more in effect burden for schools, and softened standards, if inspections were carried out by internal authorities with Ofsted keeping a check on them."

But Carol Reid, headteacher of Caludon Castle extensive in Coventry that has been judged outstanding, said: "I determine that superb schools shouldn"t have Ofsted inspections. I don"t wish that unresolved over us, we know we are good."

Reid pronounced that carrying been distrustful of the thought of academies, she was right away deliberation the idea. "We would get additional resources and be means to have the own decisions and compensate the staff the rate we think they are worth," she said. "It seems that branch in to an academy would be really straightforward."

Ed Balls, the preparation secretary, pronounced the supervision had already reformed the Ofsted inspections complement so that weaker schools were legalised some-more mostly and high behaving schools less often. "It would be wrong to contend that a little schools, even those that are now you do well, should as a make a difference of element never be legalised again," he said.

Eurostar apologises as sight relapse leaves hundreds stuck UK headlines

A Eurostar sight pennyless down in Kent on the approach from Paris to London, stranding hundreds of passengers. Photograph: Andy Rain/EPA

Eurostar officials were currently questioning an additional sight relapse that left some-more than 700 people stuck in dark last night as staff used their mobile phones as torches.

The energy unsuccessful on the Paris to London use only south of Ashford, in Kent, at around 10.45pm due to a "major technical problem".

More than 740 passengers had to stand down ladders on to the marks and afterwards stand in to a deputy use behind up on to a deputy sight that arrived to one side the unsuccessful sight some-more than an hour later.

Eurostar – heavily criticised for a array of pre-Christmas breakdowns that left thousands of passengers stuck – apologised for the situation and pronounced a full review was underneath way.

"We don"t know only what happened or because at the moment," a orator said. "We are questioning fully. We are contemptible for any annoy caused."

Conditions described by passengers on the damaged down sight echoed most of the complaints available during the pre-Christmas breakdowns.

Richard Startari, vocalization from the train, told the BBC: "A lot of the Eurostar staff are going up and down with water, but they don"t appear to have torches, that is a bit concerning. They"re utilizing their iPhones."

Another newcomer told Sky News the sight had unexpected come to a stop prior to the lights went out.

"It"s removing sincerely hot, but people are really calm, really relaxed," the newcomer added.

The rescue sight arrived at St Pancras station, in London, only after 2.30am – some-more than 4 and a half hours after than the scheduled attainment time.

Eurostar pronounced travellers had been offering taxis or road house accommodation. They were additionally being offering a money reinstate for the influenced Paris to London tour and a free lapse sheet as compensation.

A orator added: "The passengers feel they have been well sensitive and well looked after."

In December, Eurostar services were disrupted for multiform days and some-more than 2,000 people were stuck in the Channel tunnel, a little overnight, after 4 trains pennyless down due to cold weather.

The breakdowns led to cancellations and vital disruption, and the association was forced to suggest refunds or exchanges to all those who had been due to travel.

Another sight pennyless down last month, withdrawal passengers stuck in the hovel for some-more than an hour.

An eccentric review in to the pre-Christmas transport disharmony criticised the association for unwell to sufficient strengthen the trains" engines from the winter weather.

It pronounced passengers had suffered "appalling" conditions, adding that Eurostar had been forced to improvise after unwell to plan for such an emergency.

One of the report"s recommendations was that the association should cruise on condition that the staff with some-more torches.