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THE FEDERATIVE Republic of Brazil this week returned to Japan's Samurai market for the first time since 1996, launching a highly successful ¥60bn three year offering via Nomura. The transaction was premarketed this week on the basis of a ¥30bn indicated issue size and yield range of 4.25%-4.75%, but the combination of increasing appetite for risk and growing hunger for yield among Japanese investors meant that the issue was ultimately doubled in size and priced in the middle of guidance at launch yesterday (Thursday).

CREDIT SUISSE First Boston and Goldman Sachs raised £347.88m for BSkyB on Wednesday to finance part of the satellite and digital broadcasting firm's purchase of a stake in German firm KirchPayTV. In November 1999 UK-based BSkyB - which is 40% owned by Rupert Murdoch's News Corp - announced that it would buy 24% of Kirch, the leading pay-TV station in Germany. Roughly half of the payment was in cash with the rest in BSkyB shares.

TWO OF China's most popular internet portals, Sina.com and Netease.com, are on track to list on Nasdaq in April. The issues should enjoy strong demand from investors who have witnessed the stellar performance of issues such as China.com and more recently Tom.com. China.com is far less developed than either Sina or Netease in terms of average daily views and registered users. Tom.com is still little more than a business plan.

Market report: Compiled by Jim Webber,

* BGB Finance (Ireland) plc Guarantor: BGB AG, LB Berlin

VOICE and data telecoms and internet provider CompleTel Europe successfully completed its Eu476m IPO this week via Goldman Sachs and Salomon Smith Barney. A total of 27.2m shares were sold in the Premier Marché and Nasdaq listing. There is a greenshoe of 4.08m shares which was exercised within a day of the Monday pricing following a 25 times oversubscription.

A Eu1bn facility for Gucci Group, arranged by Citibank and UniCredito Italiano is launching today (Friday). The two banks are joint books, with the Italian bank as agent. The deal is divided into a Eu333m multi-currency 364 day revolver, with a one year term out option, and a Eu776m five year revolving credit.

Latvia Syndication was launched this week by arranger and facility agent Standard Bank London for a $15m 364 day credit facility for Parex Bank. RZB (Vienna) has already committed to the deal as a co-arranger.