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THE ITALIAN region of Lazio this week made its international markets debut with a dual tranche Euro/144a offering for $300m. The issue, documented under the region's recently signed global medium term note programme, was the first globally distributed issue by an Italian region.

* Kredietbank SA Amount: Lfr2bn subordinated

* The launch prospects for the debut dollar Eurobond for Russian diamond producer Almazy Rossii-Sakha (Alrosa) via Salomon Smith Barney and SBC Warburg Dillon Read looked brighter this week, following the announcement that the Russian government had been granted a one year extension to its current $9.2bn three year extended fund facility from the IMF. The news provided a much needed boost to the prices of all Russian assets. Ba2/BB- rated Alrosa completed a series of public investor presentations in Europe and the US last week and has since conducted a number of one-on-one meetings with potential buyers.

Banks are waiting to hear the outcome of the bidding contest for the much prized arranging mandate for the financing of the Sweeney power project which has a total cost of $185m and is sponsored by CSW. Although the project has an offtake agreement for 50% of the project's power output, much of the remaining power will be sold into the pool thus creating a merchant style financing. Credit Suisse First Boston is among the bidders. Banks should hear from CSW within the next week.

* European Investment Bank Rating: Aaa/AAA

* Council of Europe Social Development Fund Rating: AAA/Aa1

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US NEW issues are set to benefit from the wave of record-breaking market performances this week with blue chip stocks riding through the sixth straight day of record highs. The Dow Jones closed yesterday at 8375.58 ending the record run as some investors cashed in their gains, but the index had been as high as 8451 on Wednesday. This performance bodes well for the US IPO market and investors have several large issues to choose from in the coming weeks.

SBC WARBURG Dillon Read is now acting as joint bookrunner with ING Barings on the sale of stock in Dutch trading company Hagermeyer -- the largest secondary offering to date in the Dutch market -- reflecting the speed with which the equity division of UBS is being integrated into that of SBC following the decision of the two banks to merge. Last month, UBS won the mandate alongside ING Barings. As financial adviser to the company, UBS remains global co-ordinator.

Finland Senior lead managers in the DM370m seven year multicurrency revolving credit for Rautaruukki Oy joining arrangers Bank of Tokyo-Mitsubishi, Chase Manhattan, Commerzbank and Merita are Citibank, Den Dankse Bank, Postipankki Bank, Svenska Handelsbanken and Unibank. Lead managers are Crédit Lyonnais Indosuez, Banca Monte dei Paschi di Sienna, Landesbank Schleswig-Holstein and Cobank.

* Bayerische Landesbank Rating: Aaa/AAA

THE KINGDOM of Spain this week successfully launched a 30 year euro fungible deal, the longest yet in the nascent single currency.