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Australia General syndication for Texas Utilities Australia's A$1.1bn acquisition financing closed last week oversubscribed but was not increased. Lead arrangers National Australia Bank and Toronto-Dominion Australia kept A$150m and A$78.3m respectively while BA Australia and Deutsche Bank Australia absorbed A$61.3m apiece.

FOLLOWING the successful Eu144m sale of stock in Telinfo, international and local investors are gearing up to buy a variety of Belgium stocks. Primary activity in the Brussels market has been subdued in recent years but is picking up as more privately owned companies see the benefit of floating at current rich valuations. "This market is ripe to host a variety of mid-cap deals," says a local banker. "There are some exciting opportunities to buy primary equity from growth sectors and we expect investors to be supportive of the dealflow in the next few months."

GENERAL syndication of the Eu1.7bn six year multicurrency revolver for Bombardier is approaching completion. Lenders have showed great interest in the deal and over $450m has been raised -- an outstanding amount for a general syndication for a non-European credit. Arrangers ABN Amro, Commerzbank, Deutsche Bank and SG are just waiting on a couple of stragglers before they wrap up the deal.

THIS WEEK was a busy one on Wall Street as the new issues market remained robust and a number of companies returned with large secondary offerings. Goldman Sachs was successful with the IPO for Northpoint Communications Holdings mid week, raising some $360m for the company.

* Warburg Dillon Read has arranged a Eu1.5bn Euro-MTN programme for Banca Lombarda, rated A2. A Eu350m floating rate bond was launched this week under the programme. Further details are as yet unknown. For comment on the issue, see Bonds.

>* Commerzbank AG