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THE HUNGARIAN government is set to launch the $300m to $400m secondary sale of stock in Matav, which follows the group's international IPO in November of 1997 and will be the final sell-down of the government's ownership. Credit Suisse First Boston has been mandated to lead manage the deal, after taking the senior role (with Merrill Lynch) in the company's flotation.

Brazil Citibank NA has closed a $30bn loan style FRN for Canbras Communications Corp. The deal was launched last summer but due to unfavourable market conditions its completion was delayed.

LATIN borrowers are continuing to line up for issuance in the weeks ahead, despite the deluge of supply in the past two months and an abrupt halt in the recent rally in Latin bonds, especially those from Brazil. Argentine TV cable company, Cablevision, will today (Friday) price a $250m 10 year straight bond issue via Chase, with yield talk in the 13.5% to 13.75% range. That is wider than where the issue was expected to come at, and compares with a 13.25% yield to the put on the recently issued $175m Multicanal 10 put five deal.

COSTA Rica joined the rush of Latin borrowers into the US market this week with a $300m 10 year 144A deal, led by CSFB. The deal was priced slightly above its 400bp area spread talk, at 412bp, in part because of the slump the Latin bond markets suffered this week.

THE REPUBLIC of Latvia this week completed roadshows for its debut international issue in the public Eurobond markets this week. A team of senior funding officials, headed by finance minister Ivars Godmanis, hosted investor presentations in Vienna, Frankfurt, Zurich and London for the expected Eu150m five year issue. Credit Suisse First Boston will lead manage the deal early next week.

THE FEDERATION OF MALAYSIA submitted an SEC filing last week in the clearest sign yet that the government is on the verge of launching its eagerly anticipated global bond offering. Market observers now believe that roadshows are being prepared for mid to late May.

THE CITY of Moscow has started talks with arranging banks to restructure its loan commitments. Interest payments are due in mid-June on a $200m loan, signed in June 1997 that was arranged by Deutsche Morgan Grenfell, West Merchant Bank and Société Générale.

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THE FEDERATION OF MALAYSIA submitted an SEC filing last week in the clearest sign yet that the government is on the verge of launching its eagerly anticipated global bond offering. Market observers now believe that roadshows are being prepared for mid to late May.

GERMAN conglomerate Mannesmann is set to launch the largest ever corporate euro issue in mid-May, a Eu2bn to Eu2.5bn 10 year deal via Deutsche, Dresdner Kleinwort Benson and Commerzbank. Proceeds of the transaction will be used to refinance a Eu1bn loan the company is currently seeking to back its acquisition of German telecommunications company o.tel.o.

Mannesmann has mandated a group of banks to arrange another facility, this time backing its acquisition of o.tel.o. Bankers say the loan, likely to be short term, totals about Eu1bn and that Deutsche, Dresdner and Commerzbank are leading the deal.