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BANKBOSTON announced on Thursday that it was boosting its presence in Asia with two high profile hirings. Francisco De La Hoz is to become the bank's country manager for Singapore and regional client manager in corporate banking; and Loren Romano will take up a role as managing director and head of Asian syndicate. De La Hoz joins BankBoston after 18 years with Chase, where he was involved in the building of client relationships. At BankBoston he will continue the bank's shift from a predominantly product focus to a client based approach. Romano will be expected to help BankBoston widen its capital raising capability as the bank looks to underwrite and distribute loans and securities in Asia. He also joins the bank from Chase, where he has worked since 1981, most recently as head of fixed income sales and before that as an emerging market fixed income salesman.

UBS WON the mandate this week to lead a new benchmark offering by Taiwan's China Steel group. The combined impact of the large size of the issue and the group's poor track record with international investors has already begun to focus attention on the deal ahead of its prospective launch in November. However, Taiwan specialists commented that while previous issues from China Steel have not been well received, the main cause chiefly stemmed from the government's perceived attitude towards pricing, a problem that may not bedevil this offering.

THE REPUBLIC of Colombia this week faced the embarrassment of becoming the only Latin sovereign to fall down the credit spectrum instead of moving up this year, when Standard & Poor's revised its outlook on the country and a number of its issuers this week. While affirming the republic's long term foreign currency BBB- rating, S&P said it had cut its outlook from positive to stable and said it had essentially discounted any prospect of an upgrade in the near term.

THE UNITED Mexican States plans to become the first Latin sovereign issuer in Canadian dollars with a C$500m global bond due for launch in the next few weeks. The deal, mandated to Merrill Lynch and Scotia-McCleod, will be the first Canadian issue by any Latin borrower since Pemex's groundbreaking C$100m deal in 1993. The offering will roadshow in the week ahead, with pricing later in the month. Bankers not involved in the transaction suggested a launch spread of around 170bp over Canadian government bonds as the likely level.

LUCK was on the Republic of Argentina's side this week when the sovereign issued two successful bonds in lire and Deutschmarks just days before both markets plunged on negative political and interest rate news. Argentina launched a DM1bn 12 year offering led by ABN AMRO Hoare Govett shortly before the Bundesbank announced a rise in interest rates.

LEBANON's Fransabank kicked off its newly established $300m global deposit programme in style this week, launching a $150m five year transaction -- the largest non-sovereign Eurobond from the country to date. The Euro/144A offering was lead managed by Merrill Lynch, which is also the arranger of Fransabank's debt issuance facility.

ISRAEL'S largest and most profitable financial institution, Bank Hapoalim, this week launched the first issue off its recently established global MTN programme. The $200m five year floating rate note issue was lead managed by Merrill Lynch, which also arranged the debt issuance facility.

LUKOIL, Russia's premier oil company, is poised to return to the Euro-convertible bond market for a new financing, Euroweek has learned. Market sources say syndicate invitations have been received from SBC Warburg Dillon Read for the issue, whose details will be publicly announced next week.

* Russia' s Avtobank is due to start roadshowing an inaugural Eurobond offering in Asia, Europe and US next week via Crédit Agricole Indosuez. The expected $100m fixed rate issue will be the first off Avtobank's $50Om Euro-MTN programme arranged by Crédit Agricole. Launch is likely to take place shortly after the final round of investor presentations in New York on October 23. The bank is rated Ba3 by Moody's Investors Service.

CONCERNS over interest rate movements in Germany and the US failed to dampen international fixed income investors' enthusiasm for Turkish risk this week, with a debut dollar issue for Türkiye Garanti Bankasi and a benchmark Deutschmark transaction for the Republic of Turkey both drawing strong demand. First to come to market was Euromarket debutant Türkiye Garanti Bankasi, which launched a $350m five year Euro/144A offering via its Cayman Islands-registered special purpose vehicle Pera Financial Services Co.

STRONG investor interest enabled Banco Rio de la Plata to boost the size of its initial public offering on Thursday night to raise $719m -- the biggest Argentine IPO so far in 1997. The deal was priced at $15 per ADR, in the middle of its $14 to $17 price range. Rather than push the market for a higher price, global coordinators Merrill Lynch and Santander suggested the selling shareholder increase the stock up for sale from an original 34.5m ADS and ADS equivalents to 42.32m.

THE LEAD managers' decision to price the latest instalment of the Portugal Telecom privatisation at a discount was immediately vindicated yesterday (Thursday) as the Bundesbank's interest rate caused widespread falls on European bourses. Following a highly successful marketing campaign, the sale of a further 18% of Portugal Telecom -- the third stage of the government's privatisation of the telecom operator -- closed earlier this week heavily oversubscribed.