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LEAD manager ING Barings and Ukrainian finance officials were this week celebrating the extremely positive investor reception for the $2.7bn commercial debt exchange offer launched by the Republic of Ukraine on February 14. More than 90% of holders of each and every one of the five series of eligible bonds agreed to the restructuring terms proposed by the Ukrainians by the end of the tender period on Wednesday, March 15 - well above the minimum 85% acceptance level required.

* African Development Bank Rating: Aaa/AA+/AAA

KOWLOON Canton Railway Corporation (KCRC) returned to the international bond markets last Friday to exploit a rallying Treasury market and price its second $1bn offering. KCRC, having previously launched a $1bn 10 year eurobond in July 1999, also viewed the new 10 year global SEC registered deal as a predetermined structure to match the prefunding requirements of its East and West Rail projects in Hong Kong's New Territories.

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Mexico The bank list is now available for the $120m 364 day Asian term loan for Banamex.

THE INHERENT volatility of internet stocks was in full view on the Paris bourse yesterday (Thursday), when French ISP LibertySurf was suspended on its debut. Despite unprecedented flexibility from the Paris bourse, the company's stock had to be suspended several times.

THE INHERENT volatility of internet stocks was in full view on the Paris bourse yesterday (Thursday), when French ISP LibertySurf was suspended on its debut. Despite unprecedented flexibility from the Paris bourse, the company's stock had to be suspended several times.

INTERNET and software offers on the Neuer Markt endured mixed fortunes as heavy falls on the US and European new markets put pressure on the investor love affair with the sector. While Lycos Europe's Eu773m IPO looks set to be a hit when it prices on Monday and DCI's Eu71.68m IPO more than doubled, Commerzbank's Eu97.9m IPO for Travel24.com just held its issue price at the end of its first day trading.

MARCONI disappointed bankers and investors this week as its Eu1.5bn two tranche transaction - originally viewed as a potential deal of the year - was hit by confusion surrounding the pricing and syndication of the issue. Ahead of launch, Marconi appeared to have all the ingredients for a successful transaction: its A3/BBB+ rating matching demand for lower rated corporates; its business combining the attractions of the telecoms industry without the event risk of telecoms providers; and its strong name recognition.

Bahrain Seven banks are thought to be close to a mandate for Arab Banking Corporation. Officials this week indicated that Bank of Tokyo-Mitsubishi, BNP Paribas, Barclays, Fuji Bank, Greenwich NatWest, National Bank of Kuwait and WestLB are the likely winners of the closely fought mandate.

INTERNET and software offers on the Neuer Markt endured mixed fortunes as heavy falls on the US and European new markets put pressure on the investor love affair with the sector. While Lycos Europe's Eu773m IPO looks set to be a hit when it prices on Monday and DCI's Eu71.68m IPO more than doubled, Commerzbank's Eu97.9m IPO for Travel24.com just held its issue price at the end of its first day trading.

* Jack Levy has resigned as global head of mergers and acquisitions at Merrill Lynch after 22 years at the company. Levy headed Merrill's M&A group for the past decade. Steven Baronoff and Daniel Dickinson have been appointed as co-heads of the group.