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ALSTOM has finally given permission to Banque Nationale de Paris, Chase Manhattan and HSBC to launch its debut Eu1.5bn facility to co-arrangers. For over three weeks, the market has been waiting for the jumbo facility while the borrower agreed the term sheet.

The republic of Argentina launched a blow-out $1bn global bond with warrants this week, providing much needed evidence that investors are willing to support the country’s large borrowing needs — provided it pays up.

The French government will shortly announce the lead banks for the sale of the newly formed entity born from the merger between state owned Aérospatiale and the Matra defence unit of Lagardere Group. Lagardere is paying $342m for a 33% stake in the group, and an additional 20% will be floated in the first half of this year.

The republic of Argentina launched a blow-out $1bn global bond with warrants this week, providing much needed evidence that investors are willing to support the country’s large borrowing needs — provided it pays up.

China Sponsor Beijing Municipal Government has invited banks to bid for an advisory mandate for Beijing No 10 Water Treatment Plant's build-operate-transfer project to upgrade water services in Beijing.

For Asia's beleaguered debt capital market professionals, starved of new issue activity for the best part of two years, any chance to generate business is welcome indeed. The euro could well be such an opportunity.

Australia Arrangers BA Australia, Citibank and Westpac have decided to hold their commitments in the A$500m bridging loan for the acquisition of BHP assets by Duke Energy until the bridge can be taken out by a longer term financing.

* National Australia Bank Ltd Rating: Aa3/AA

Was there a minor split between little PaineWebber in London and one of its top salesladies, the stunning and totally alluring Alo Abed? Was its dispute taken to court, but averted at the very last minute? Did Alo emerge smiling all over her beautiful face? Normally we don't write about titchy, witchy PaineWebber in London, which is too small, too boring and too insignificant to merit the attention of our readers. However, the firm does retain an excellent salesforce and, by paying out commissions that some bulge bracket houses would think were scandalous, the socially ambitious Alo Abed was soon earning more than £1m a year.

A team of international investment banks will shortly be appointed as global co-ordinators for the forthcoming flotation of GratisTel International, the Swedish company behind Europe's first mobile sponsored telephone service. The company announced this week that it may seek a listing for its common shares in New York in addition to a local float in Stockholm.