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In the wake of the $47bn merger of Swedish telecoms company Telia with Telenor of Norway, the newly formed entity -named Newtel - has plunged into the European frenzy of telecoms takeovers. HSBC has won the mandate to arrange a $2bn facility for Newtel, to back its $1.59bn hostile bid for Esat Telecom of Ireland. Newtel is offering $72 in cash for each Esat American depository share and $36 for each Esat share.

India Government utility National Thermal Power Corp is tapping the market with a ¥8.7172bn two year six month loan facility. State Bank of India (Tokyo) is the arranger.

The B1/B+/BB- rated Republic of Kazakhstan reinforced the success of its return to the international bond markets this year with a second increase to its 13.625% five year offering. The Central Asian sovereign added a further $75m to its outstanding $225m bond.

A HANDFUL OF Latin corporates, having waited all year for better market conditions, are looking to hit the dollar market in the next few weeks. Companhia Petrolifera Marlim (Marlim), a joint venture developing a deepwater oilfield project of Brazil's Petrobras, will wrap up roadshows this coming Thursday for a $200m to $500m five year final, 2-1/2 year average life medium term note issue carrying guarantees from Petrobras. The issue will be the first leg of a total $1.3bn funding programme it wants to complete by December 2008.

Warburg Dillon Read this week broke new ground for the Middle East when it ran the books on the debut Eurobond by an Egyptian borrower. With Barclays Capital as joint lead manager, the Swiss investment bank launched a $100m five year issue for Egyptian conglomerate, the Lakah Group.

Brazil Citibank has been mandated to arrange a $400m project finance loan for Algar Telecom Leste. A second arranger may also be appointed. Further details have yet to be released.

Bahrain The $75m three year term loan for Bahrain Middle East Bank should close today (Friday). The deal is being arranged by Arab Bank, Arab Banking Corporation (facility and documentation agent), Arab Investment Company, Chase Manhattan (bookrunner) and Emirates Bank International PJSC.

* The ING board and the management committee of corporate and investment banking (CIB) has appointed David Duffy to the management committee of CIB. He will continue his roles as chief operating officer of ING Barings and chairman of the operating committee of CIB. * Julian Tunnicliffe will join ING Barings in February 2000 as a managing director and head of industrial manufacturing investment banking, Europe. Based in London he will have responsibility for a team that will focus on investment banking origination and execution for the sector.

* Brazilian utilities and semi-sovereigns are lining up to hit the international bond markets in the new year. Eletrobras this week said it plans to issue between $300m and $400m and Petrobras confirmed it was seeking approval from government authorities to raise $500m. Both entities have been severely limited in their access to international debt. The last time Petrobras came to market was in May when it issued a $100m 8.75% one year deal via Barclays Capital. * The Province of Buenos Aires increased its one year 144a bond issue this week by $30m, taking the deal, launched by Salomon Smith Barney on November 24, to $150m.

* Integra this week returned to the markets just six months after its Nouveau Marché IPO with a Eu100m deal that achieved a 5-1/2 times subscription and saw it list on the Neuer Markt. Robertson Stephens reprised its bookrunner role in the IPO and was joined by Lehman Brothers which followed a roadshow where investors were reported to have been impressed by the management's attention to detail.