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India Software company Infosys Technology is preparing to launch its $50m ADR sale after a number of failed attempts.

MARKET observers received mixed messages from the Korean privatisation programme this week when the long expected launch of Korea Electric Power Co's (Kepco's) $800m ADR issue was set for the second week of March, while Pohang Iron and Steel Co (Posco) announced measures to block hostile takeover bids. Despite expectations that a post-Chinese New Year launch was imminent, bankers expect global co-ordinators ING Barings, Salomon Smith Barney and Hyundai Securities to launch roadshows for Kepco's share offering during the week of March 8.

THAILAND'S Asset Management Corporation (AMC) has scrapped plans to appoint a financial adviser after asking nearly half a dozen banks to bid for the role. The group -- established in December 1997 as bidder of last resort at auctions held by the kingdom's Financial Restructuring Authority (FRA) -- had been shortlisting bids from Goldman Sachs, Jardine Fleming, Merrill Lynch, Nomura and Thai Farmers Bank.

ISRAEL Electric Corporation launched its largest ever international bond this week -- a $500m 10 year Yankee/144A issue via Salomon Smith Barney. Despite a challenging new issue environment yesterday (Thursday), with both the US equity and Treasury markets trading sharply off, Salomon increased the issue to $500m from an original $400m target.

LATIN Americans borrowers' hopes of issuing in the euro-denominated bond market suffered a setback this week when the Republic of Colombia postponed a Eu300m to Eu500m offering. Colombia and its lead managers, Paribas and Warburg Dillon Read, had been airing the idea of a five or seven year offering over the past few weeks, but found that even a hefty launch spread in the low to mid 600bp region was not enough to draw out investors.

THE REPUBLIC of Turkey made its keenly awaited debut in the euro sector this week with the launch of a Eu500m five year issue. Joint lead managed by Deutsche Bank and Paribas, the B1/B rated transaction featured a 9.5% headline coupon to give a yield of 9.63% and spread of 622bp over the 6.25% March 2004 Treuhand on a fixed re-offer price of 99.50.

CORPORACIÓN Andina de Fomento (CAF), the Caracas-based supranational, will today (Friday) launch its first international issue this year with a $200m five year Yankee bond led by Credit Suisse First Boston. The deal is expected to be priced at 237.5bp over Treasuries, slightly above the 235bp trading level of it its bonds maturing in 2005. Other outstanding CAF issues are its 2003 bonds at 230bp, and its 2007s at 250bp.

MOHEGAN American Indians charged into the US high yield market this week to raise $500m for its casino -- the biggest tribal gaming bond yet and the most successful junk bond deal of the week, attracting more than $3bn of orders. While the rest of the market

COLT TELECOM, the UK high growth alternative telephony provider, is taking advantage of the telecom stock fever to raise £500m ($800m) in straight equity and convertible debt. The group is one of the most financially innovative groups in its industry and last year raised over £650m through highly successful financings in a variety of markets.

THE ANNOUNCEMENT of the largest ever syndicated loan for a European corporate -- a $25bn credit facility backing Olivetti's audacious $58bn bid for Telecom Italia -- triggered intense debate among bankers this week about the Euroloan market's capacity.

WARBURG Dillon Read had the sale of William Hill, the UK's second largest bookmaker, pulled from out of its hands last weekend in a move that threw a shadow over prospects for mid-cap UK stocks. The bank had tried to float the company publicly on behalf of Nomura Principal Finance, but instead the vendor decided, after rejecting a reduced offer price, to switch to a sale to two private

A STRONG rally in the US markets early in the week made conditions more favourable for new offerings as investors returned to the market with renewed appetite after last week's lull. Salomon Smith Barney got off to a good start when it completed the IPO for consultancy firm The Corporate Executive Board on Monday. The bank priced the offering at $19, the top of its $17-$19 indicated range. A total of 8,187,200 shares were sold to investors -- 1.6m of those outside the US. All the stock was offered by existing shareholders.