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Australia Pricing for the St George Bank auto loan securitisation deal came within the tight end of the range given last week. The A$571m issue for Crusade Auto Trust was the first pure auto loan securitisation from Australia and the first from a commercial bank.

Hong Kong Pacific Century Cyberworks has mandated Credit Suisse First Boston as lead manager for a possible equity fundraising. The company was set up through a reverse listing, structured by BNP Prime Peregrine, and houses the property assets for the government's planned cyberpark.

n Bank of Tokyo-Mitsubishi and Dresdner Kleinwort Benson announced this week that they have jointly set up an asset backed commercial paper conduit in Japan, primarily to securitise corporate trade receivables.

Thailand will be in the running to reopen the Asian equity markets after the summer lull with three issues set to test the appetite for paper from the country. Siam Cement and Thai Farmers Bank look set to launch in two weeks' time, with Thai Military Bank possible a week later, according to bankers.

FOUR technology issues from Taiwan are lined up for a September launch with Synnex Technology, Hon Hai Precision, Mosel Vitelic and CMC Magnetics all pre-marketed this week. ABN Amro and Jardine Fleming are joint leads for Synnex Technology's $200m GDR sale. The company is the country's largest distributor of IT and

Argentina continued to chip away at its funding needs this week by reopening its Eu550m five year bond for an additional Eu100m. The deal, led by Morgan Stanley Dean Witter, is the third reopening of the issue, taking it up to Eu650m.

n Israeli power utility Israel Electric Corp (IEC) this week was forced to shelve its plans for a debut euro denominated bond after the country's finance ministry insisted it switch its funding focus to the Yankee bond market. The ministry ordered the change because IEC's planned euro issue has run up against a number of covenant-related issuance restrictions which could have delayed it by several months.

A Brazilian mandate for a Eu500m seven year benchmark was the focus of fierce competition among underwriters this week, with some houses attempting to drum up investor support for a yield as thin as 10.5%. Rivals said ABN Amro, which upset the market last week with an aggressively priced deal for Brazilian development bank BNDES, has been sounding investors out on whether they would accept a seven year offering for Brazil at just 10.5%, when its dollar denominated five year benchmark, maturing 2004, is yielding 14.67%.

Lesser rated central and eastern European sovereigns face the prospect of an uncertain exile from the international bond markets after B3 rated Ecuador this week announced that it is to restructure its Brady bonds. Among those countries considered most likely to be affected by the fall-out from Ecuador's debt crisis are Kazakhstan and Romania.

China Arrangers Industrial & Commercial Bank of China and Industrial & Commercial Bank of China (Hong Kong) expect to close the aircraft financing for Air China next week. The final amount of the deal has not been established, but will range from $150m to $170m.

Rating: Aa1/AAA/AAA Amount: Eu5bn global Öffentlicher Pfandbrief series 501