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India The $75m five year financing for Industrial Credit & Investment Corp of India arranged by BA Asia has closed. The arranger held $10m.

Dutch telecoms company Royal KPN raised around Eu6bn of short dated funding this week in the largest corporate bond offering of the year, overcoming fears surrounding the telecoms sector through credit sensitive coupons and concessionary pricing for the company’s ratings.

Dutch telecoms company Royal KPN raised around Eu6bn of short dated funding this week in the largest corporate bond offering of the year, overcoming fears surrounding the telecoms sector through credit sensitive coupons and concessionary pricing for the company’s ratings.

Brazil Mandated arranger FleetBoston has signed a $190m five year amortising loan for Rio Grande Energia (RGE), one of three companies that previously formed part of Companhia Estadual de Energia Eletrica (CEEE).

BOOKBUILDING for the Lit856m-Lit1.085bn (Eu228m-Eu290m) IPO of the monopoly Lithuanian telecoms operator Lietuvos Telekomas opened on Monday. The success of the deal, which will be the first major equity issue from Lithuania, will provide an important indication of how technology issues from emerging Europe will fare for the rest of the year. The offer, which is managed by Dresdner Kleinwort Benson and CAIB, consists of 285,499,891 shares. These represent government holding company VTF's remaining 35% stake in the company. The retail tranche will be listed on the National Stock Exchange of Lithuania and the institutional tranche listed as Global Depository Receipts (GDRs) - each worth 10 shares - on the London Stock Exchange.

Egypt The first stage of syndication of the $225m acquisition financing for Orascom Telecoms is in full swing. Chase Manhattan and Citibank are jointly arranging the deal.

The long drought of equity issuance from Russia looks set to end with the launch of the $250m-$400m IPO of Mobile TeleSystems (MTS) at the end of next week. Bookrunners Deutsche Bank and ING Barings will sell 15m American Depository Shares (ADSs) in the New York listing, which will test the appetite of international investors for Russian paper for the first time since the country defaulted in 1998.

The long drought of equity issuance from Russia looks set to end with the launch of the $250m-$400m IPO of Mobile TeleSystems (MTS) at the end of next week. Bookrunners Deutsche Bank and ING Barings will sell 15m American Depository Shares (ADSs) in the New York listing, which will test the appetite of international investors for Russian paper for the first time since the country defaulted in 1998.