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ING Groep has this week signed a Eu8bn Euro-MTN programme, and launched an inaugural issue of Eu1bn. ING Barings/BBL is the programme arranger and lead manager for the issue. The programme is a multi-currency facility, and ING Groep's first MTN platform. ING Groep has had limited needs for funding in the past, and has relied on single bond issues for funds. The MTN programme will be used for normal business purposes, although alternative funding sources will still be tapped.

Didn't you too have the feeling that Goldman Sach's extremely close involvement with the flotation of World Online (known to market wags as Wolly) would come back to haunt it? The relatively blameless Morgan Stanley Dean Witter was given a roasting by the once influential Lex Column in the Financial Times for its dismal handling of lastminute.com and Lex came as close as it could to calling Morgan Stanley a bunch of plonkers. However, lastminute.com was a minnow compared to Wolly, and after the resignation of the World Online chairman, and a host of less than fragrant allegations, Goldman is deep in the brown and pungent. Needless to say, some envious competitors are dancing in the street and even the normally responsible Business Week was suggesting that Goldman's comeuppance was long overdue.

India Several banks reviewing the information memorandum for the $75m five year deal for Industrial Credit & Investment Corp of India (ICICI), arranged by BA Asia, have expressed interest. Responses are due in mid-May.

The Republic of Kazakhstan surprised a nervous bond market with the launch of its delayed $350m seven year issue yesterday (Thursday), confirming the nation’s unique position in the emerging markets hierarchy.

The Republic of Kazakhstan surprised a nervous bond market with the launch of its delayed $350m seven year issue yesterday (Thursday), confirming the nation’s unique position in the emerging markets hierarchy.

Panama Barclays Bank (Miami) has completed a very successful syndication of a $100m USCP backup facility for Banco del Istmo.

Landesbank Schleswig-Holstein (LB Kiel) this week launched the first public, term securitisation by a German Landesbank, with a Eu1.007bn synthetic residential mortgage deal lead managed by WestLB. The transaction confirms the trend that Germany's banks, though slow to begin securitising, have now adopted the technique with enthusiasm, and are producing some of the asset backed market's most innovative structures.

BNP Paribas has changed the terms on Leonia Corporate Bank's Eu350m five year floating rate note launched on April 13 following a rating downgrade by Moody's. The issue now pays a coupon of Euribor plus 17.5bp instead of 12.5bp and an all-in spread of 26.5bp instead of 21.5bp originally. The issue and re-offer price remained at 99.74.

Abu Dhabi The two shortlisted bidders for the concession to develop the $1bn Tawellah A1 power and water desalination project - CMS Energy and TotalFina/Tractebel - have submitted revised technical bids for the project.

Finland * Merrill Lynch is premarketing a Eu125m equity fundraising for chip maker Aspocomp. The Helsinki-listed company expects to complete the deal by the last week of May. Aspocomp is a manufacturer of medium to high volume PCBs (printed circuit boards) and competes in the high tech service sector.