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Argentina Arrangers Barclays Bank (Miami) and Banco Bilbao Vizcaya Argentaria launched the $150m loan-style FRN for Banco Frances SA into general syndication yesterday (Thursday). The facility has a margin of 145bp over Libor. Upfront fees are 40bp for $20m, 32.5bp for $10m-$19m and 25bp for $3m-$9m. Proceeds are for general corporate purposes. Replies are requested by October 13.

Latvijas Unibanka (Unibanka) has postponed the debut trade off its $400 million Euro-MTN shelf, which it signed last month (see MTNWeek, issue 191). The postponement is a result of Skandinaviska Enskilda Banken's (SEB) buyout attempt of the Latvian bank. If SEB wins a 100% shareholding then Unibanka will have no need to access the international debt markets. Viesturs Neimanis, vice president at Unibanka, says: "The situation with SEB is a little unclear. Even if SEB becomes the sole owner there will be advantages in keeping the programme, but we may then cancel at the next annual update." A cancellation is likely as Unibanka's board supports SEB's intentions.

While many of finance's finest were sorting out the world's problems at the Word Bank meeting in Prague, the MTNers seemed to have more pressing engagements - golf, cruising and drinking. Paul Devenny at Rheinhyp in Dublin organized a golf day, which, bizarrely, MSDW's Klaus won. Dean 'the dog' Fogg, Merrill Lynch's finest, claims he was robbed of gold by a hole-in-one from Rheinhyp's Neil MacDermot. CSFB's origination girl, Louise Mason, has had a gruelling schedule which took her to Oktoberfest, the Munich beer festival. HypoVereinsbank Asset Finance was her host and she has only just recovered in time to go to an ABS conference in the Bahamas. Louise's ex-colleague from her Barclays' days, Frair Appleby-Walker (now at MSDW), was only last week with Katherine Mitchell from BNP Paribas at the Rabobank boat party in the Netherlands. And this week she's on another boat with another issuer (whatever happened to dealer loyalty?). This time it's the Nationwide crew who are hosting its annual cruise down the Thames. Again, they've hired the best money can buy for the live music - Light Alloy, the awfully named band that Barclay's Rob Ford fronts. Last year saw HSBC's Fergus Kiely dazzling the dance floor. But he might not have the energy to strut his stuff this year after his high-octane Silverstone engagement with the Jaguar F1 crowd. Does anyone do any work in September?

Head priced its $240m IPO at the bottom of the range this week despite a three times oversubscription for the offer. A number of large institutional accounts in the Morgan Stanley Dean Witter, Goldman Sachs and CAIB-led deal were price sensitive resulting in the low pricing, according to a syndicate official. The 23.96m shares sale - of which 14.5m were new, 6.25m were existing and 3.125m are a yet to be exercised greenshoe - were sold at $10 from a range of $10-$14.

Lehman Brothers has taken 10 equity salespeople from CSFB and DLJ. Robert Andolina joins from DLJ as managing director and head of US equity sales into Europe. He reports to Garry Jensen, head of global European cash sales and Steve Weiss, head of global US cash sales.

Landesbank Rheinland-Pfalz (LRP) signed a euro10 billion ($8.84 billion) multi-currency CP programme on September 22. Deutsche Bank won the arrangership. The programme has a special feature that allows notes denominated in euros to be listed on the Frankfurt stock exchange, at the investor's request. This is of particular benefit to German financial investors. Michael Hawighorst, treasurer at LRP, says: "We expect to raise between euro3 billion and euro5 billion before the end of the year and this volume should increase next year, but we do not think that we will have to increase the euro10 billion ceiling of the programme." Notes with tenors between seven and 365 days can be issued off the programme. LRP reveals that Deutsche Bank was appointed as arranger because it provided a full service, including acting as IPA. Hawighorst says: "Deutsche Bank offered so many services out of one hand, it made the process easier for us." The issuer had its long-term AA+ ratings dropped to AA by Standard & Poor's last December. LRP told MTNWeek in September that it has felt the effect of this downgrade, and it may "have to pay up for long-dated debt." However, the programme is rated P1 by Moody's, A1 by Standard & Poor's and F1+ by Fitch. The dealer group is Barclays Capital, Citibank, Goldman Sachs, UBS Warburg, the arranger and the issuer itself. LRP also has a $15 billion MTN programme, arranged in 1994 via Merrill Lynch. It is nearing its debt ceiling, with $11.49 billion outstanding off 105 trades.

Marionnaud Perfumeries' secondary offering was priced at Eu107 on Wednesday, raising Eu80m for the company. Crédit Agricole Indosuez was the sole bookrunner of the 14% capital increase, a decrease from the expected 20%. A greenshoe of 15% could be exercised on Monday, according to a banker close to the deal.

Mexico, fresh from the success of its recent buyback of Swiss franc denominated Brady par bonds, this week launched a potential multi-billion dollar repurchase of its other non-US dollar Bradys. The buyback, managed by JP Morgan, involves the repurchase of about $3bn equivalent of Brady par bonds denominated in Deutschmarks, Dutch guilders, French francs and Italian lire. The offer expires on October 17.

Kuwait United Bank of Kuwait (UBK) has pulled its debut $100m five year term loan from the market because of its merger with Bahrain Bank Al-Ahli Commercial Bank. The two banks are launching a new offshore banking unit in Bahrain. The merger will have UBK holding 67.38% of the equity. The Al-Ahli Bank will hold the remaining 32.62%.

Salomon Smith Barney has been added as a dealer to Mitsubishi Estate's $4 billion debt issuance programme. The dealer has sold $544.35 million-worth of debt for Mitsubishi Estate, representing more than half of the issuer's total outstandings.

Worldlink is banking on its unique technology getting investors' attention when the company lists on the LSE toward the end of the year. The Merrill Lynch led IPO is likely to raise around £70m of new money and the company should have a market capitalisation of between £120m and £130m on listing, according to Neil Riches, managing director of the company.

France Lead arrangers Credit Suisse First Boston and SG Investment Banking are looking to wrap up the selldown next week of a Eu225m seven year two tranche credit facility for Kaptech SA.