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The hybrid sector’s focus might be turning to Asian retail but as Euromoney went to press Munich Re announced an interesting €1 billion benchmark hybrid transaction – rated A3 (Moody’s)/ A (S&P)/A+ (Fitch) – with Deutsche Bank, JPMorgan and UBS as bookrunners.

CVRD mines rich loan seam, following through with record-breaking bond issues.

Gary Cottle has left Morgan Stanley less than a year after joining the US investment bank. He joins Royal Bank of Scotland as head of corporate risk solutions for the UK and Europe.

Merrill Lynch’s real estate team is looking decidedly thinner on the ground after a series of recent departures. CMBS head Nassar Hussain has left the bank along with John Bigley and Pascal Richard. They are understood to be heading off to different ventures: Hussain is rumoured to be setting up a Middle East-based property fund.

Asset managers are part of an unusual issuer mix.

Funding officials at the largest 250 borrowers on the global debt capital markets were asked to rate their top three preferred banks in one of three categories: services to clients, major currency sectors, and by product type.

In Euromoney’s February 2007 Islamic finance awards section, we incorrectly stated that the PCFC or Dubai Ports $3.5 billion pre-IPO convertible "was structured by Deutsche Bank". The transaction, Best Islamic finance deal of the year, was structured, arranged, underwritten and distributed by Barclays Capital and Dubai Islamic Bank only, while Deutsche Bank was advising PCFC on the acquisition of P&O. We regret any inconvenience that may have been caused.

Manuel Villas-Boas tells Laurence Neville how Espírito Santo Financial Group has coped with rapidly changing fortunes and what the family-owned group plans for the future.

Venezuelan president Hugo Chávez has responded with scorn to criticisms that his refusal to renew the licence of opposition TV channel RCTV amounts to a direct assault on freedom of speech. The popular channel, which Chávez accuses of having supported an attempted coup in 2002, stopped broadcasting on May 27, leaving the country bereft of many of its favourite soap operas and comedy shows, and also of any mainstream anti-Chávez television. Chávez described as "laughable" the passing of condemnatory motions by both the Senate Foreign Relations Committee in Washington and the European Parliament. The president clearly fancies himself as something of a media mogul: Venezuela is to give Danny "Lethal Weapon" Glover $18 million for a film about the Haitian slave uprising.

Funding officials at the largest 250 borrowers on the global debt capital markets were asked to rate their top three preferred banks in one of three categories: services to clients, major currency sectors, and by product type.

It is often the informal parts of conferences that are the most revealing.

TAM, Brazil’s leading low-cost airline, is seeking to maintain and improve its position with funding such as its recent 10-year bond. CFO Libano Mirando Barroso talks to Chloe Hayward about the bond and the airline’s business strategy.