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WHILE BANKERS wait for news on the mandates for Koç Bank and Isbank, Körfezbank has awarded a mandate to Bank of New York, Dai-Ichi Kangyo Bank and HypoVereinsbank, to arrange a $30m one year term loan. The deal carries a margin of 95bp, and has been launched to general syndication. Co-arrangers can earn 85bp for $5m, lead managers 77.5bp for $3.5m, managers 72.5bp for $2.5m and participants 67.5bp for $1m.

The Korean bank recovery story took a turn for the worse this week with the postponement of Korea Exchange Bank's $1bn GDR recapitalisation issue. The Morgan Stanley Dean Witter-led deal had been hanging in the balance since launch following a steep decline in the underlying stock in the wake of the Daewoo Group crisis.

German conglomerate Mannesmann this week posed the sternest test yet of the depth and maturity of the European convertible bond sector, launching a highly aggressive Eu2bn deal into a market where issuing conditions are far from favourable. Although the terms of the deal shocked some market participants, the jumbo bond was priced and allocated in the early hours of Friday morning - less than 48 hours after its launch - with all the signs indicating that the company and its bankers had pulled off an audacious piece of financing.

Bahrain The $60m term loan for Bahrain International Bank is going well in syndication and has received several commitments - with around two weeks of syndication still to run.

German conglomerate Mannesmann this week posed the sternest test yet of the depth and maturity of the European convertible bond sector, launching a highly aggressive Eu2bn deal into a market where issuing conditions are far from favourable. Although the terms of the deal shocked some market participants, the jumbo bond was priced and allocated in the early hours of Friday morning - less than 48 hours after its launch - with all the signs indicating that the company and its bankers had pulled off an audacious piece of financing.

Exchange Fund Investment's landmark $1bn to $2bn Hong Kong equity offering began pre-marketing this week with an institutional roadshow set to begin on October 25. The government will officially announce the new index product - thought to be called the tracker fund of Hong Kong - on Monday, launching a media blitz that will run through to the close of the deal on November 5 with listing on November 8.

n Paul Tregidgo, a managing director and head of Latin American debt capital markets group, has been appointed head of emerging debt capital markets at Credit Suisse First Boston. He will oversee the origination and execution of debt transactions in the emerging markets. Carsten Stoehr, director, will be moving to Hong Kong at the end of the year. He has been appointed as head of emerging Asian debt capital markets. Peter Malik, vice president assumes a new position as head of emerging European debt capital markets. Stoehr and Malik will report to Tregidgo.

n Deutsche Bank and Merrill Lynch have abandoned their marketing efforts for a planned Eu150m-Eu200m two or three year euro issue for the Republic of Romania in the face of widespread antipathy from investors in Europe and the US. The news has been greeted with little surprise by market participants, many of whom had long regarded the B3/B-/B- rated sovereign's chances of securing investor support as negligible.

Credit Suisse First Boston overcame testing market conditions this week to complete the third internet-related IPO in the UK to date, floating £50.46m of shares in online auction house QXL.com to value the business at £263m. The offering came at a time when commentators have been questioning the valuations attached to internet businesses, with the two main exchanges for technology companies - Nasdaq in the US and Germany's Neuer Markt - both exhibiting high degrees of price volatility in recent weeks.

The Republic of the Philippines continued to enhance its status as Asia's most sophisticated and prolific borrower with the launch this week of its most ambitious offering to date. With its exchange of Brady debt for new uncollateralised global bonds, the republic should further distance itself from the ranks of stigmatised debtor nations, ease its current fiscal burden and greatly increase the flexibility of its liability management.