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South Korea * Korea Exchange Bank

Europe * Deutsche Bank (CAST 2000-1)

Australia Barclays Capital, Chase Manhattan Australia and Westpac have been mandated as lead arrangers and joint bookrunners for the A$2bn fundraising for Telstra Corp. Chase Manhattan is also acting as facility agent.

Our compliments to Bear Stearns in London, which seems to have been given a whole new engine and not just a change of oil. Once upon a time the Bear in Europe was content to play in the children's paddling pool of the Euromarkets. In New York the Bear was a fiercesome competitor with one of the best returns on equity in Wall Street. Overseas, however, the firm made only the occasional small ripple and was best known for its pushy salesforce, which was paid solely on commission. Bear Stearns in Europe needed to improve its image, which was still distinctly Brooklyn, Bronx and Queens rather than Fifth Avenue. Now they are well on their way with the recruitment of our friend Michel Péretié the highly intelligent, former chief executive of BNP Paribas' debt capital markets business in London.

Barclays Capital has formed a new financial advisory group in the investment banking division. Mike Williams is leading the group as a managing director, and Mark Van De Voorde will join as a managing director in a few weeks. "Barclays was previously less well resourced to work on large scale capital restructuring," said Williams. "The new group will ensure we have the resources to do so in depth work with clients.

Six Spanish lenders, mostly regional savings banks, launched a Eu513.9m securitisation of mortgages this week through joint bookrunners Crédit Agricole Indosuez and EBN Banco. TDA-12 is the second MBS issue this year managed by Spanish securitisation management company Titulización de Activos (TdA).

Ireland's largest building society, EBS, launched its first securitisation this week with a Eu495m residential mortgage deal, Emerald Mortgages No 1 plc, lead managed by UBS Warburg. EBS Building Society is one of the top six mortgage lenders in Ireland, with a 14% market share. Jackie Gilroy, general manager of property finance at EBS in Dublin, said that owing to Ireland's rapidly growing housing market, the building society had been forced to seek new forms of funding.

Finaref, the consumer finance subsidiary of French retail group Pinault Printemps Redoute, made its first venture into the public debt market this week by securitising 46,000 unsecured consumer loans. Sole manager Crédit Lyonnais claimed that the Eu271.381m deal is the first public securitisation to use the French 'compartment' system, which allows for separate transactions to be issued through the same FCC (fonds commun de créances, the French securitisation vehicle).