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BANKERS are forecasting an increase this year in the volume of convertible bonds, spurred by strong sentiment in the major stockmarkets and the relatively static outlook for interest rates. According to salesmen, corporates that tap the market this year will be assured of generous terms because of the imbalance between supply and demand for these products.

BELGIAN telecommunications group Mobistar in April will appoint the global co-ordinator for its upcoming international flotation, one of the largest and most hotly contested deals to emerge from the Benelux in recent years. A cellular operator, Mobistar hopes to raise Bfr8.5bn to Bfr12.75bn by selling 20% to 30% of its equity on the public market.

* Bacob Overseas Ltd Guarantor: Bacob Bank

China Xinjiang Airlines Ltd has mandated Chase Manhattan Asia to arrange an $180m US Exim backed financing to fund the purchase of two B757 aircraft. The last time the borrower was in the market was in February 1996 with a deal arranged by Bank of China and Kincheng-Tokyo Finance.

THE LATIN equity new issue market was dealt another blow this week when Colombian power distributor Interconexión Eléctrica (ISA) shelved plans to for a $200m initial public offering in the wake of last week's embarrassing postponement of the $175m Celumovíl deal. Celumovíl, a Colombian cellular phone company, was to be the first Latin new issue to come to market this year. However, it was pulled by lead managers Salomon Smith Barney and Santander Investment late last week when it failed to drum up sufficient investor demand even at a lower price range.

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TRANSNET, South Africa's parastatal transport company, is set to sign a $1bn Euro-MTN programme which will make it the first South African issuer to set up such a facility. Deutsche Morgan Grenfell is arranging the programme. Transnet is a relatively new name in the international bond markets. Its debut Euromarket deal in July last year was a R150m three year transaction. Its second deal, a R2bn 30 year zero coupon bond launched this week, will be the first to be documented under the Euro-MTN facility

THE WORLD Bank will join US agency Fannie Mae in the superliquid issuer bracket by launching a $3bn to $5bn five year global bond next week.

THE WORLD Bank will join US agency Fannie Mae in the superliquid issuer bracket by launching a $3bn to $5bn five year global bond next week.

* British Petroleum has signed a $2bn Euro-MTN programme arranged by JP Morgan. Issuers on the facility are BP Capital plc, BP Overzee BV, BP Finance Australia Ltd and BP America Inc. All issuance will be guaranteed by British Petroleum Co plc. Dealers on the facility are Deutsche Morgan Grenfell, Goldman Sachs, Lehman Brothers, Merrill Lynch and SBC Warburg Dillon Read.

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