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Latvia Transit Bank is thought to be looking for a $20m syndicated loan to be launched next year and may be turning to Bankgesellschaft Berlin to arrange it.

Australia Merrill Lynch completed a A$48m placement of Powertel shares on Tuesday. A total of 20m shares in the third-tier telecom provider were sold by a venture capital company at A$2.40 - a discount of around 10% to the market price.

ABN Amro Rothschild's $300m Hong Kong IPO for Beijing Capital International Airport will be among the first deals of the new year, heading a new stream of transport related sales to target investors. A research blackout for the $250m to $300m deal for the Chinese capital's redeveloped airport begins on December 23, prompting expectations of an early January launch.

* The Philippine National Power Corporation (Napocor) has sent out invitations to bid on a dollar bond offering for the second time this year. Having previously sought proposals in June, the state-owned group has asked banks to update pricing guidelines for a minimum $300m 10 year transaction for launch next year. Replies are due by December 20, but many bankers doubt whether a transaction is any more likely to see the light of day than it was in the summer when the group said it was considering a third quarter deal.

The Islamic Republic of Pakistan has achieved a far higher level of acceptances than originally anticipated for the exchange offer of its three Eurobonds which closed this Monday (December 6). However, while the country managed to get 90% of bondholders to agree to the terms of the exchange, observers said that the key question centres on what will happen to the remaining 10% that did not participate.

* Province of Nova Scotia Rating: A3/A-

Responses are due in two weeks for a HK$2bn five year fundraising for Cheung Kong Finance Co. Co-ordinating arrangers BA Asia, BOCI Capital, CEF Capital, Industrial & Commercial Bank of China, KBC Bank and SG Asia have launched general syndication, having underwritten the entire amount.

WARBURG DILLON Read has overseen the signing of the popular Eu300m senior debt package backing the leveraged buy-out of Clondalkin, the Irish paper and packaging company. Some 10 banks joined at retail level, resulting in a 20% oversubscription.

The equitY capital markets were buzzing this week with the news that Deutsche Bank and Goldman Sachs had won the mandate to lead manage the sale of stock in Lycos Europe, the joint venture between US internet company Lycos and Bertelsmann. The offer is likely to be structured as an international public offer with a listing on Frankfurt's Neuer Markt. The top positions in distributing the shares have been fiercely contested by a number of US and European firms.