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n Commerzbank AG Rating: Aa3/AA-

ABN Amro Rothschild and Banca IMI are preparing to launch the offering of shares in Tiscali, the Italian internet-based communications group. The company has filed a registration statement with the Consob, the Italian regulatory authority, to list its shares on the Nuovo Mercato, the Milan exchange's section for high growth and hi-tech companies.

THE TURKISH government will soon award mandates for its key privatisation mandates, including the national oil refinery Tupras and Turk Telecom. Turkey's Privatisation Administration has seen its programme of state sales stall many times in the past, but the government is desperate to get the process moving again. The state needs revenue to reduce its budget deficit and comply with EU membership criteria.

ABN Amro Rothschild and Banca IMI are preparing to launch the offering of shares in Tiscali, the Italian internet-based communications group. The company has filed a registration statement with the Consob, the Italian regulatory authority, to list its shares on the Nuovo Mercato, the Milan exchange's section for high growth and hi-tech companies.

DaimlerChrysler, the newly merged auto company, is poised to bring its debut global bond next week, with swap dealers close to the borrower say it is considering a swap to floating rate dollars. The A1/A+ credit is believed to be looking at a $3bn transaction, split between tranches at five, 10 and two or three years. The short dated transaction may be a floating rate note. The borrower was unavailable for comment.

The US Treasury's $37bn quarterly refunding weighed heavily on a dollar market already depressed by interest rate concerns. Any optimism created by the successful 10 year auction was quickly dissipated after the disappointing outcome of the 30 year auction sent prices reeling yesterday (Thursday). The yield on the 30 year bond rose to 6.28%, its highest level since October 1997. Swap spreads, however, staged a recovery on Thursday (London time), the five year narrowing 15bp to 89bp to the new five year (86bp to the old), and the 10 year by 10bp to 107bp to the new 10 year.

France Euroweek hears that Banque Nationale de Paris has won the mandate to arrange a deal for building materials company LaFarge.

South Africa Dresdner Bank Luxembourg and Sumitomo Bank have won the mandate to arrange a $100m term loan for Telkom. The two arrangers have fully underwritten the deal.

China Arrangers Industrial & Commercial Bank of China and Industrial & Commercial Bank of China (Hong Kong) have launched a $190m two tranche aircraft financing for Air China. Aside from underwriting the entire amount, the arrangers are also providing a guarantee.

UK n Endeavour Sch plc

Australia The A$313m term loan for Southern Cross Pipelines Australia will be syndicated by the end of the month. Arranger ANZ Investment Bank has sent information memoranda to eight banks.

n Rabo Australia Ltd Guarantor: Rabobank Nederland NV