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LATIN corporates and semi-sovereigns are issuing bonds again, now that Mexico, Argentina and Brazil have left the international markets humming in the past month with $3.75bn worth of strongly performing global bonds. Brazilian steel maker CSN launched a blow-out $250m two year deal this week and BNDES launched a ¥40bn four year Samurai via Nomura with a 4.75% coupon.

Egypt The syndication of the $225m acquisition financing for Orascom Telecoms is almost complete with some 10 banks committed and just one or two outstanding. Joint arrangers of the loan are Chase Manhattan and Citibank.

Mitsubishi Corporation Finance has axed Salomon Smith Barney as co-arranger off its $8 billion Euro-MTN shelf. Merrill Lynch is now sole arranger.

* Fannie Mae is to introduce an automatic syndication system for its Benchmark Securities programme. The 'Benchmark Automated Syndication System' (Bass) will enable Fannie Mae to price transactions more quickly and cheaply by allowing investors to provide secure information direct to the company. The first use of the system will be for August's three non-callable benchmark securities transactions. The co-leads, Goldman Sachs, Merrill Lynch and Morgan Stanley will provide information via a password protected interface, which is also capable of taking orders from dealers' proprietary web-based systems. Fannie Mae will also use the system for passing information to investors.

Morgan Stanley Dean Witter is a US CP dealer off Shell Finance's global CP programme, signed on July 6, see MTNWeek, issue 189.

Shell Finance has signed a $6 billion global CP shelf. It is the biggest global CP programme in the market. The facility replaces its $4 billion Euro-CP programme and its $2 billion US CP shelf, which have both been cancelled. It is the second global CP programme to be signed in 2000, following Alcatel's signing in May. There are now 18 global CP shelves in the market. Goldman Sachs is the arranger off the global facility. All dealers off the Euro and US programmes are retained and Salomon Smith Barney is added.

* WestLB Finance (Curaçao) NV Guarantor: Westdeutsche Landesbank Girozentrale

Siemens has dropped Siemens Coordinations Center as an issuer from its euro3.5 billion ($3.33 billion) debt instrument programme.

* World Bank Rating: Aaa/AAA/AAA

Societe Generale has increased the size of its euro20 billion ($19.06 billion) Euro-MTN shelf to euro30 billion. IBJ has been dropped as a dealer and National Australia Bank, SG Bank & Trust and Commonwealth Bank of Australia have been added to the dealer panel.

CITICORP International, Deutsche Bank, Dresdner Kleinwort Benson and Standard Chartered have launched the $200m dual tranche facility for Industrial Bank of Korea. Following the spate of one year deals for Korean banks in late 1999, the borrower is picking up on this year's trend for three year money. Hana, Kookmin, KorAm, Shinhan and H&CB are either syndicating or have completed deals with three year maturities, showing the improvement in investor sentiment for medium term Korean debt.

Mandated arranger SG has closed syndication of the $206.514m senior debt backing the buyout of Revlon Professional Products, now called Colomer Group, from Revlon Group. The facility is in documentation, having raised an oversubscription of around 50%. It will be signed in August.