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Japanese finance company Shinki Co Ltd introduced a new asset class to the country's securitisation market this week, with a $25.6m deal secured on small business loans. Sole manager ING Barings-BBL has arranged a ¥100bn Euro MTN programme that will allow Shinki to securitise the asset through multiple issues in a variety of currencies and structures - the first transaction is guaranteed by triple-A rated US monoline insurer Financial Security Assurance.

A second wave of Taiwanese equity issues is being lined up in the wake of the success of the Mosel Vitelic sale, the launch of the Hon Hai Precision offer and positive responses to Synnex Technology's continuing roadshow. ABN Amro Rothschild is believed to be preparing a $150m to $250m GDR sale for Ritek Corporation to follow Synnex while the launch of CMC Magnetics' convertible is also imminent. Bankers have also been pitching for a Winbond GDR mandate this week.

GE Capital Australia made a surprisingly quick reentry into the domestic bond market this week with the launch of a new A$400m offering via Merrill Lynch. Having made its debut just two weeks ago with an A$600m transaction via ANZ, the triple-A rated group is now two thirds of the way to completing an A$1.5bn funding programme for the current

Toyota is poised to list in London and New York at the end of September, on the back of a ¥162bn share sale by three major investors. The move continues a trend of reduced cross-holdings in Japanese industry.

The Republic of the Philippines is shaping up to be the only active sovereign borrower from Asia in the closing months of 1999, with preparations under way for a fresh onslaught of international borrowings to bridge its widening budget deficit and take full advantage of the Miyazawa plan. Excluding the central bank, the republic has raised $2.195bn so far this year through a total of four foreign currency transactions and is likely to be as tireless as ever over the next few months despite recent talk of placing greater reliance on domestic funding sources.

Although new issue momentum has yet to pick up properly on Wall Street after the Labor Day holiday, more names were added this week to an already impressive pipeline and market conditions are looking good for a busy second half of September. Although the frenzy for internet stocks may have cooled recently, there are no shortage of companies coming to the market from the sector. Deutsche Banc Alex Brown is at the helm for the revived IPO from Luminant Worldwide, which filed new terms this week.

n Republic of Austria Rating: Aaa/AAA

n Fleet National Bank Rating: A1/A+

Renewed dollar buying by Asian accounts, first seen in last week's transactions for the World Bank, Denmark and KfW, encouraged further Eurodollar issuance this week. Significant among the Eurodollar deals was a $1bn five year transaction for the Republic of Portugal. The EU sovereign has been absent from the dollar sector since 1993 but, although offering considerable rarity value, the pricing was considered tight at 73bp over Treasuries.

Belgium Chase has closed the co-arranging phase of the $250m US swingline facility for Fortis Finance.

Market sources say Anglo American has quietly approached the market for a sizeable credit facility. The mining giant recently announced it planned to make a series of impressive acquisitions. Ghana

AMADEUS GLOBAL Travel Distribution will next week launch its long-awaited IPO. The deal is being run by global co-ordinators Warburg Dillon Read (books) and Merrill Lynch with CSFB as an out-of-order co-lead. The deal will comprise the sale of secondary stock from Continental CRS with Amadeus' other shareholders - Iberia, Lufthansa and Air France - being diluted through a capital increase. Continental is selling its complete 12.5% stake. After the IPO some 25% of the Amadeus group will be freely traded, with 25% held each by the remaining industrial investors. The new money raised will be targeted at projects including the development of the group's online business and the paying down of debt.