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The Republic of Kazakhstan is set to host a series of investor presentations in the first week of July in support of a debut euro offering. Probable destinations are London, Frankfurt, Milan, Paris and Geneva. Deutsche Bank and ABN Amro will lead manage the issue for the B1/B+/BB- rated central Asian sovereign, its first foray into the international bond markets since October 1997.

Turkey's $500m 10 year global bond received a rousing reception on Friday (June 18), with investors reacting positively to what was perceived as the issue's fair-to-generous pricing. The transaction was Turkey's largest and longest dated dollar bond since before the Asian crisis in the fourth quarter of 1997 and the first since the formation of a new government following elections in April.

Sara Simmons has joined JP Morgan in London as a vice president and member of the bank's loan trading team where she will be responsible for the distribution and sales of secondary loans. Before joining the US bank, she was a director in DKB International's asset distribution department.

European companies took advantage of favourable issuing conditions in the equity linked debt markets this week to launch a trio of large transactions - with very mixed results. Despite growing worries over a possible rate rise at next week's FOMC meeting in the US, generally buoyant stockmarkets enabled British Aerospace, Fortis and the Belgian utilities Tractebel and Electrabel to issue sizeable convertible and exchangeable bonds.

Wall Street remained troubled about the likelihood and scale of interest rate rises this week, with both blue chips and technology stocks feeling the heat. There were few new issues completed but several new companies filed for offerings in the coming weeks. Investors gave an enthusiastic reception, however, for the IPO for TD Waterhouse Group, indicating a renewed confidence in online brokerage companies.

TURKCEL, the leading Turkish cellular phone service provider, has announced plans to complete an international IPO this year, ending a near 12 month dearth of issuance of Turkish equity to international investors. The deal could be as large as $3.2bn on the most optimistic expectations and involve the sale of a 20% stake.

CSFB AND MPS have completed the sale of 25% of Monte dei Paschi di Siena stock. This could increase to 28% if the greenshoe is exercised and if the bonus shares are traded. The deal was a huge success with both Italian and international investors, with 261,695,000 shares sold in each tranche. A greenshoe of 52,338,000 shares is earmarked for institutional investors.

ABN Amro Rothschild this week valued Van Lanschot, the Dutch investment bank, at up to Eu1bn with a price range of between Eu31 to Eu36.5. Some 26.2% of the group's equity will be sold by institutional shareholders through ABN Amro Rothschild, with preference given to existing individual investors.

CSFB, DEUTSCHE Bank, BBV, Argentaria and La Caixa have completed the IPO of Telefónica's yellow pages subsidiary, Telefónica Publicidad & Información (TPI). The deal was greeted with enthusiasm from retail and institutional investors, allowing the lead firms to price the shares at Eu15 and the stock to immediately trade up to Eu19. Some 17,075,510 shares were sold to international institutional investors with 16,378,184 going to retail and 4,094,500 sold to Spanish institutional investors. There is also a 5,364,034 greenshoe option for institutional buyers that will be executed on a 5:6 basis to international and local buyers.

South African rand European Investment Bank