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HANA BANK and H&CB (formerly Housing & Commercial Bank of Korea) have followed the recent trend for Korean banks to tap the market. Hana Bank has mandated BA Asia, First Union National Bank and Standard Chartered Bank to arrange a $120m 364 day transferable term loan. Citicorp International and Natexis Banque are arranging a $100m 364 day financing for H&CB.

Finland About 20 institutions attended the bank presentation of the Eu500m acquisition financing for Huhtamaki Oy. The arrangers are Citibank (books) and MeritaNordbanken (documentation and facility agent).

Arrangers ABN Amro and Merrill Lynch have successfully completed the co-arranging phase of the $3bn credit backing VNU's acquisition of Nielson. When the deal was first launched two weeks ago, certain market players derided its terms, saying they were too low. Some predicted the deal would crash ignominiously, leaving the arrangers with a large amount of low paying, albeit short term, debt on their balance sheets.

THE refinancing for Cofco Capital Corp's $200m 364 day L/C facility signed in September 1998 has been completed. Mandated arranger BA Asia invited nine banks to sign up as joint arrangers and underwriters before launching the deal into general syndication. Arrangers are BA Asia, Banca Commerciale Italiana (New York), Banca Monte dei Paschi di Siena, Bank of China (New York), Banque Nationale de Paris (Beijing), First National Bank of Chicago, Rabobank and Standard Chartered Bank (Beijing) pledging $18.5m apiece, and Bank Brussels Lambert (Hong Kong) and Development Bank of Singapore committing $13.5m each.

Belgium Chase has closed the co-arranging phase of the $250m US swingline facility for Fortis Finance.

Is there no limit to the genius of Guy Hands, the increasingly cherubic securitisation wizard at Nomura in London? This was the man who first provided us with trains adorned with hostesses wearing black fishnet stockings, and who was then bidding to run the London Under- ground system.

Bayerische Hypotheken- und Vereinsbank fulfilled its promise of regular issuance under its Geldilux collateralised loan obligation programme this week, launching a Eu750m deal with a new structure designed to satisfy investors' craving for yield. HypoVereinsbank brought the first Guarantees of Euro-Loan Debt in Luxembourg transaction in February - the Eu2.22bn issue, jointly led by HVB and Goldman Sachs, was the first CLO in euros.

Building society turned bank Northern Rock Plc raised £600m from its first issue of mortgage backed securities this week, and lent new credibility to hopes that securitisation could at last be entering the mainstream of UK bank finance. The UK has produced a regular stream of mortgage securitisations since the late 1980s, but most of the deals have always come from new entrants to the market, including, in the last few years, sub-prime lenders.

Valtion asuntorahasto, the Housing Fund of Finland, brought its fourth securitisation of social housing loans this week. At Eu500m, Fennica 4 was the largest issue yet from the programme and the first to be denominated in euros from the outset. "The main objective of this deal was to widen the investor base for Fennica bonds," said Riita Salonen, Helsinki based head of capital markets at Leonia Corporate Bank, which lead managed the issue jointly with bookrunner Paribas.

n ABN Amro's mammoth mortgage deal, worth around Eu2.35bn, is expected to be launched next week. Unofficial price talk is 25bp to 27bp over Euribor for the five year tranche and 30bp to 32bp over for the 10 year fixed rate piece. Market participants said the deal would likely price at the outer ends of both ranges. n RMAC 1999 - NS2, the second non-conforming mortgage securitisation from the UK branch of GMAC's residential mortgage arm Residential Funding Corp, may emerge as early as next week through Barclays Capital.

Currency overlay is becoming increasingly popular with investors who need to manage foreign exchange risk.

MACQUARIE Corporate Tele-communications will aim to capitalise on the enthusiasm for the second sale of shares in Telstra with a A$172m IPO that was launched on Monday. Macquarie's listing also follows the successful market debut of Hutchison Telecommunication a fortnight ago. The institutional tranche of Hutchison's A$309m deal was 15 times oversubscribed.