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Hungary The market is waiting to see who will arrange the new financing for oil and gas company Mol. Bidding for the EIB guaranteed facility closed on Tuesday.

Uncertainty about the Dutch government's proposed changes to the tax treatment of securitisations played havoc in the market this week. The two most recently issued deals, SNS Bank's Hermes II and DBV Levensverzekeringsmaatschappij's Holland Homes closed on schedule, but SNS Bank had to abandon its planned sale of a subordinated tranche, fearing that the tax changes could leave the deal with a cash shortfall.

The low cost airline easyJet announced a price range for its £181m-£254m IPO this week, although analysts continue to question the firm's business model. easyJet is roadshowing the deal in the Netherlands today (Friday) and will visit London and the US next week. The base offering consists of 63m shares at 250p-350p, and the greenshoe is made up of 9.45m shares. All the shares offered are new. The total will represent 28.8% of the company.

Latin America * Corporación de Andina de Fomento

ENI has added CSFB as a dealer to its euro1 billion ($861.6 million) Euro-CP programme. Issuance off the programme has been very high this year. The programme was signed in 1999 via Goldman Sachs.

* Fortis Lux Finance SA Guarantor: Fortis Bank

* Banca Popolare di Bergamo - Credito Varesino SCRL Senior rating: A2/A

The Republic of Finland may repurchase more legacy currency Eurobonds, following the success of its latest buyback, which netted some Eu600m equivalent, nearly 62% of the total amount eligible. Eleven out of the 13 eligible dealers participated by executing 50 investor trades, ranging in volume from Eu450,000 equivalent to nearly Eu60m. (See accompanying table for details.) All Eurobonds repurchased will be cancelled.

While US dollar markets were quiet this week, there was hardly any more life in the euro denominated bond market. The All Souls holiday on Wednesday closed markets throughout Europe. But, Freddie Mac is preparing to launch the second leg of its EuReference Note programme this month. It is roadshowing in Europe. The new deal will be for Eu5bn, and will mature in either 2003 or 2005, depending on investor preference. Like its predecessor, the Eu5bn 10 year priced in early September, it will be swapped to dollars.

Gamesa's stock surged on the Bolsa de Madrid on its first day of trading following its successful IPO. The stock closed up 72.4% at Eu21.73 from an issue price of Eu12.60, at the top end of the range, and continued to trade up throughout the week. BBVA and Schroder Salomon Smith Barney co-ordinated the deal in which 25% of the offer was sold to retail investors with the remaining shares allocated equally between Spanish and international institutions. The international book was dominated by UK and US investors.

* Retail investors this week shunned the Eu165m Deutsche-led IPO of Borussia Dortmund, the first German football club to list, forcing the company to price its shares at the bottom of the range. Of the 15m shares sold, between 70% and 80% were expected to be bought by retail investors, but low demand meant that only 25% were sold to private individuals. Institutions also showed reluctance to pay prices near the top of the Eu11-Eu13 range, and so in an attempt to generate a good aftermarket performance the club priced its shares at Eu11. More stock was then allocated to institutions outside Germany than within, and 3% of the shares were sold to friends and family.