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CITIBANK launched its first CLO in the Australian domestic market this week, lead managed by Citisecurities. The A$580m deal from Initial Corporate Obligation Notes Trust (Icon) is also the first securitisation of commercial loans in Australia.

HSBC MARKETS scored a success in the turbulent Asian markets yesterday (Thursday) with the launch of a new HK$1bn fixed rate bond from the European Investment Bank (EIB).

THE EUROPEAN Bank for Reconstruction and Development (EBRD) added an innovative twist to the development of the Taiwanese dollar bond market this week when it became the first issuer to reopen an existing bond transaction in the currency. The London-based supranational launched a debut NT$6bn bond in late May, and yesterday (Thursday) added an additional NT$3bn via sole lead Grand Cathay Securities.

* Shares in Tianjin Development Holdings made a surprisingly strong debut on the Hong Kong Stock Exchange this week, closing 24% above the initial issue price of HK$6.60 at HK$8.20. Despite a renewed fall of the Hang Seng Index, which closed on Wednesday 4.1% lower at 11,022.41, heavy institutional interest was reported in the window company. Its shares were pitched deliberately low to tempt international accounts back into the China market.

THE EUROMARKETS lost one of its most successful practitioners of recent years following the news this week that John McNiven, co-head of investment banking at Merrill Lynch Asia, is to take a six month sabbatical. His departure will be a blow for Merrill, where he has forged a reputation as an innovative, forthright and flamboyant originator. McNiven is to take a temporary leave of absence to recuperate from ill health. However, many in the market doubt that McNiven will return to Asia, where he has most recently helped to consolidate the bank's position as the most prolific arranger of dollar denominated debt for issuers in the region.

* NatWest Markets may sprint past the competition to bring the first Korean securitisation -- without the aid of a monoline wrap. The bank is preparing a deal for Asiana Airlines, and aims to launch it before year end if the market is favourable. The transaction will offer around $200m of fixed rate bonds in several tranches, backed by an enhanced equipment trust certificate. Proceeds from the deal will be used to buy three new aircraft, which the issuing vehicle will lease to the airline.

* National Australia Bank Ltd Rating: Aa3/AA

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LEAD managers Nordbanken, Credit Suisse First Boston and Merrill Lynch this week completed the last major transaction of the year from the Nordic region with the completion of the sale of stock in Nordbanken. The deal, which raised in excess of $800m, was executed toward the middle of this week with a book which was more than three time oversubscribed. Investors in the region and throughout continental Europe clamoured for stock in a move to obtain exposure to the rapidly consolidating European banking industry.

BANCO Santander Brazil has issued the largest ever emerging market Navigator bond, illustrating the growing demand for Brazilian credits in the Portuguese market. The Esc34bn transaction, led by Banco Santander de Negocios Portugal, has a three year tenor and pays a coupon of six month Lisbor plus 165bp divided by 0.85. The unusual coupon takes into account the 15% withholding tax levied by Brazil on transactions issued directly by Brazilian entities. Only issues for the republic are exempt from this tax.

Finland Arranger Handelsbanken Markets signed the DM 125m (increased from DM100m) seven year multicurrency revolving credit for Nokian Tyres plc on December 10.