GLOBALCAPITAL INTERNATIONAL LIMITED, a company

incorporated in England and Wales (company number 15236213),

having its registered office at 4 Bouverie Street, London, UK, EC4Y 8AX

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  • THE FEDERATIVE Republic of Brazil has called on firms to submit bids for a debut five year Eu250m to Eu300m offering, following the blow-out Eu400m offering from Argentina which helped revive the outlook for beleaguered Latin credits in the Euromarkets. "Everyone is waiting for Brazil to do something in euros," said a banker in London. "Nothing has materialised yet in terms of a mandate, but it will in the next few days. Brazil will not want to miss out on this window."
  • CADES REPOSITIONED itself as a prime borrower on the international stage this week as it successfully distributed the DM3bn tranche of its multi-currency 10 year issue. The eagerly anticipated deal hit the market on Monday, just days after last week's blow-out Ffr8bn tranche. "This has achieved everything that Cades hoped for," said a syndicate official at Deutsche Morgan Grenfell, joint bookrunner with global co-ordinator CDC Marchés.
  • THE EUROPEAN Investment Bank will enter the new euro-denominated global bond market in the next two weeks following the announcement of its intention to issue a Eu2bn 10 year bond. The EIB's move is the latest unfolding of its strategy to position itself as the leading non-government issuer in the future euro market.
  • THIS YEAR looks set to produce a record volume of primary equity issuance from Turkey with corporates and banks lining up a string of deals and the country's dormant privatisation programme showing signs of revival. Morgan Stanley Dean Witter this week was mandated for the lead role in the flotation of stock in Akbank, bringing to three the number of Turkish banks scheduled to be floated on the international markets in the coming months.
  • Finland Bank of Tokyo-Mitsubishi, Chase Manhattan, Commerzbank and Merita plan to close syndication of the DM300m seven year multicurrency revolving credit for Rauturuukki Oy in the middle of next week.
  • * World Bank Rating: Aaa/AAA
  • THE REPUBLIC of Slovakia has invited banks to bid for the mandate to arrange a $300m five year syndicated loan. The loan will be used by the Slovak State Fund for Road Administration. However, the timing of the loan has puzzled some market players which have been concentrating on the $135m loan for Zeleznice Slovenskej Republiky (ZSR), the state owned railway company.
  • US AGENCY Fannie Mae will launch the second of its new benchmark notes next week in a deal that confirms frequent issuers' drive towards larger and more liquid transactions than have ever been seen in the Euro and global markets.
  • * Abbey National Treasury Services plc Guarantor: Abbey National plc