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Turkey this week topped off a hugely successful year in the international bond markets, serving up a double helping of euro and dollar paper to an institutional audience hungry for the country's debt. On Monday it launched a Eu250m increase of its 9.625% November 2006 euro issue, following up on Tuesday with a $250m tap of its 12.375% June 2009 global dollar bond.

Deutsche Bank will hold a site visit early next week for the handful of banks interested in the £73.65m senior leveraged debt backing the £111.5m buy-out of the bowling businesses of First Leisure and Allied Leisure. The senior debt comprises four tranches - a £53.65m seven year amortising term loan (term 'A') at 225bp over Libor, a £12.7m eight year bullet term loan (term 'B') at 275bp, a £2m seven year revolving credit at 225bp and a £6.3m seven year capex facility at 225bp.

Egypt The Sumitomo Bank-arranged $100m three year funding for Banque du Caire remains in syndication.

* Barclays Capital this week launched its first collateralised loan obligation, joining the growing number of European banks that have recently started using this balance sheet management tool. The UK bank threw its hat into the ring with Barclo Finance 1999 Ltd, a $200m leveraged, synthetic transaction that conveys the junior slices of risk on a $2bn global portfolio of investment grade loans.

GREENWICH NATWEST launched a £92.44m securitisation for HpC King's College Hospital Plc on Thursday, wrapped by MBIA-AMBAC International. The transaction, partially funding a Private Finance Initiative contract, is the bank's fourth such deal. The Hospital Partnership Consortium (HpC) has been awarded the mandate to renovate King's College Hospital in south London. A new six-storey wing will be built at the hospital's central site to accommodate a high-tech neurosciences centre, and the transfer of services from two other hospitals. The wing will be built by Costain and Skanska, each of which holds a 33% equity stake in HpC.

At the end of last month the European Commission published a consultation paper proposing new capital adequacy rules for European Union banks and securities houses.

BNP Prime Peregrine will launch a HK$600m IPO for Shenyang Public Utility on Monday, in what is widely expected to be the last marketed deal from the territory this year. A total of 400m shares will be sold at between HK$1.50 and HK$1.80 - giving a pro forma fully diluted 1999 p/e of 7.18 and 8.53 times.

Cho Hung Bank launched an innovative $100m subordinated FRN this week in a successful last minute bid to meet capital adequacy ratios laid down by the Korean government earlier this year when it provided a capital injection to the Ba2 rated bank. Following the collapse of an attempted recapitalisation through a $1bn GDR earlier this autumn, the bank has recently undertaken a number of measures to bring its ratios up to the required 10% mark. In November, the bank also raised W380bn ($330m) via a domestic rights issue underwritten by Daewoo Securities. In addition, the bank sold down a number of assets to Kamco.

Singapore provided an unusual focus for Asian equity capital markets this week, with offerings for Raffles Holdings and a rare convertible from Keppel Telecommunications. DBS, Morgan Stanley Dean Witter and Warburg Dillon Read completed the long expected IPO for Raffles Holdings. A total of A$255m was raised from the sale of 300m shares and the institutional tranche was 3.5 times oversubscribed.

C&W Optus has bought what is expected to be the last corporate bond from Australia this year, with the launch last Friday of a debut A$200m three year fixed rate deal. Led by ANZ, with Commonwealth Bank of Australia (CBA) and Merrill Lynch as dealers, the Baa2/BBB+ rated transaction was priced at 99.74 with a semi-annual coupon of 7.25% to yield 7.46%. Due 15 November 2002, the deal had a launch spread of 69bp over swaps or 123.5bp over Commonwealth Government Bonds. That was in line with indicative levels and offered a 5bp yield pick-up over BBB+ rated John Fairfax on a like-for-like basis.