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Market report: Compiled by Jim Webber,

THE REPUBLIC of Colombia braved an unsettled new issue environment for emerging market credits yesterday evening (Thursday) in New York to secure a successful reception for a $500m 20 year global bond. Lead managed by Chase Manhattan and Goldman Sachs, Colombia's first international debt offering of 2000 was priced to give a spread of 550bp over US treasuries on the basis of a 11.75% headline coupon and 97.53 issue price.

THE REPUBLIC of Colombia braved an unsettled new issue environment for emerging market credits yesterday evening (Thursday) in New York to secure a successful reception for a $500m 20 year global bond. Lead managed by Chase Manhattan and Goldman Sachs, Colombia's first international debt offering of 2000 was priced to give a spread of 550bp over US treasuries on the basis of a 11.75% headline coupon and 97.53 issue price.

OPTICAL technology company Corning this week launched a Eu500m two tranche transaction, leading a wave of issues for US corporates in euros that could increase pressure on European issuers and in the long term lead to a convergence of spreads in Europe and the US. Among other US corporates looking to tap the euro corporate market are Textron, Air Products, Rohm & Haas and Manpower. From Europe, Sonera, Iberdrola, BPB and Vattenfall have awarded mandates.

OPTICAL technology company Corning this week launched a Eu500m two tranche transaction, leading a wave of issues for US corporates in euros that could increase pressure on European issuers and in the long term lead to a convergence of spreads in Europe and the US. Among other US corporates looking to tap the euro corporate market are Textron, Air Products, Rohm & Haas and Manpower. From Europe, Sonera, Iberdrola, BPB and Vattenfall have awarded mandates.

THE irrepressible rise of technology stocks on the Hong Kong Stock Exchange moved up another gear this week, with Pacific Century CyberWorks leading with a $1bn blow-out placement. Crédit Lyonnais Securities Asia (CLSA) also raised $93m in a top-up placement as a bought deal for internet portal developer e-Kong Group Ltd. ABN Amro secured $40m for Sino-i.com. Exciting IPOs are also close to the market, including Tom.com, SUNevision and Sunday Communications.

CVC CAPITAL Partners, Citicorp's European private equity arm, has launched a new fund for the Asia-Pacific region - the CVC Capital Partners Asia Fund - hoping to unite high growth Asian businesses with more mature European ones. Focusing on buy-outs in sectors such as manufacturing, services, media, telecoms and distribution, though not natural resources, infrastructure and property development, the fund will initially back deals in China, Hong Kong, Korea, Singapore, Taiwan, Thailand, Australia and Japan. It will then back deals right across the region, targeting companies valued in excess of $25m.

* Deutsche Finance (Netherlands) BV Guarantor: Deutsche Bank AG

* Commerzbank AG Rating: A1/A+

Czech Republic Sumitomo Bank has won the mandate to lead an Eu85m EIB guarantee facility for Czech power utility CEZ.

The European Investment Bank's bid to introduce transparency and liquidity into its sterling issuance programme was greeted with mixed reviews from the selling members of its newly appointed dealer group. On Wednesday, the supranational launched a £500m increase to its £1.125bn issue of 5.5% December 2009 bonds, under the lead management of Barclays Capital and Warburg Dillon Read. The issue inaugurated the eight-strong dealer group appointed last week and was the EIB's first e-bond in the sterling market.

The European Investment Bank's bid to introduce transparency and liquidity into its sterling issuance programme was greeted with mixed reviews from the selling members of its newly appointed dealer group. On Wednesday, the supranational launched a £500m increase to its £1.125bn issue of 5.5% December 2009 bonds, under the lead management of Barclays Capital and Warburg Dillon Read. The issue inaugurated the eight-strong dealer group appointed last week and was the EIB's first e-bond in the sterling market.