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Bulgaria London Forfaiting Asia has brought in three banks into its $10m credit facility for First Investment Bank. BNP/Dresdner, WestMerchant and Bank Kreiss have joined the deal has joint arrangers.

* Abbey National Treasury Services plc Guarantor: Abbey National plc

Brazil * Federative Republic of Brazil

THE LEVEL of fees for international equity issues fell yet again this week when Dresdner Kleinwort Benson was mandated as global co-ordinator for the $5bn sale of stock in Endesa on a spread of 1.7% -- the lowest rate yet for a Spanish privatisation. That rate is down on the 1.75% spread for the final divestment of Argentaria shares, currently being completed by Morgan Stanley Dean Witter, and considerably lower than the 1.95% that Merrill Lynch received when it lead managed the last sale of Endesa shares.

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* European Investment Bank

A WIDE range of German companies are planning to tap the equity market over the next 12 months, offering investors an equally diverse spread of deals -- encompassing divestitures by companies unwinding cross-holdings as well as flotations. In the former category, Salomon Smith Barney this week successfully offered 11.8m shares in Continental, representing a 10.3% stake in the German tyre manufacturer. The shares were sold by Norddeutsche Landesbank and a group of other core investors that took the stake in the late 1980s to help defend the company against a hostile bid.

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* Bayerische Vereinsbank Overseas Finance Guarantor: Bayerische Vereinsbank

THE SUPPLY of stock from the Netherlands looks set to pick up after the expected pricing today (Friday) of the first Dutch IPO of the year, for IT hardware and software producer Copaco. The shares will be listed on the Amsterdam Stock Exchange with trading set to begin this afternoon. The transaction involves the sale of 3.35m ordinary shares with full voting rights.

THE ADVENT of a pan-European bond market moved several steps closer to reality with the launch of this week's superliquid 10 year bond for the Republic of Italy. At Eu4bn (around $4.4bn), the deal was the largest euro denominated transaction to date as well as the largest fixed income Eurobond to be launched in one tranche. Its status as the 10 year euro benchmark is assured.