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GERMAN investors' preference for Neuer Markt stocks seems likely to encourage foreign companies to seek a listing on this second tier market for small to mid-cap high growth corporate groups. In the next few weeks, two Austrian companies -- Sanochemia and AT&S -- should float their stocks on a hugely successful market that has hosted more than 45 IPOs this year.

The RECENT award of arranging mandate by Kredyt Bank has highlighted the growing number -- now six -- of Polish bank names either in or circling the loan market this year.

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Estonia The loan for Hansa Capital has emerged as a Eu30m three year facility. The arrangers and joint underwriters are the EBRD, Commerzbank AG and Deutsche Bank. The EBRD is the lender of record.

EKSPORTFINANS, Norway's export credit agency, will next week launch a benchmark bond for at least $500m equivalent. The transaction could be denominated in dollars or euros and a decision regarding the currency and maturity is expected today (Friday). "The message from the investor meetings is that there is a preference for either a five year dollar transaction or a 10 year euro offering," Anders Bruun-Olsen, senior vice president responsible for funding at Eksportfinans told Euroweek. "We will decide closer to launch depending on market conditions and what gives us the best reception."

INTERNATIONAL SECURITISATION had its busiest week ever with a burst of deals exceeding anything the market has seen before. Eight issuers spanning Australia, Europe and Latin America launched bonds worth $5.96bn, including a wealth of big transactions.

>* ALA (Nevada)

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THE CITY of Florence has inaugurated its newly signed global MTN programme with a $29m 144A issue. Although a series of presentations before the deal's launch generated strong demand across Europe as well as the US, the city opted for a purely US transaction.

Chase Manhattan and Bank of Scotland have provided senior debt backing the buy-out of Hall Engineering by Acertec. Candover is backing the deal. Acertec values Hall Engineering at about £90m. Senior debt will total about £60m.