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Corporates Expect news soon of a rare North Sea related financing. Euroweek hears early reports that Chase Investment Bank has been mandated to arrange a $200m borrowing base facility for first time borrower Intrepid Energy North Sea Ltd.

Morgan Guaranty Trust Co and Bank of America NT&SA have arranged a $500m revolver for ERP Limited Partnership. Pricing for the two year deal is based on the company's debt rating. The Prime margin is set at Prime flat, the Libor margin range is 25bp to 112.5bp and the commitment fee range is 15bp to 37.5bp. The Chicago, Illinois-based real estate investment trust company will use the loan to fund its merger with Evans Withycombe Residential LP.

INSTITUTIONAL pre-marketing will begin next week for the A$12bn flotation of Telstra, Australia's national telecom carrier. One third of the company's capital to be offered to investors in an eagerly awaited IPO that will be Australia's largest privatisation to date.

US CORPORATES took centre stage in the Eurobond market this week, as Coca-Cola Enterprises launched the inaugural issue off its Euro-MTN programme and GMAC issued an innovative dual tranche package in floating rate Deutschmarks and sterling. Coca-Cola Enterprises recently acquired Coca-Cola's bottling rights in the UK and in several European countries, and those acquisitions will need to be refinanced in the next few months, much of it in non-dollar currencies. The company wanted to establish a benchmark Eurobond to introduce its name to a broad base of investors.

* CPR -- Compagnie Parisienne de Reescompte Rating: A-/A+ (S&P's/IBCA)

* Province of British Columbia Rating: Aa2/AA

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THE REPUBLIC of Venezuela exceeded the market's wildest expectations this week by issuing a $4bn 30 year global bond in exchange for Brady debt -- the largest international fixed rate sovereign issue ever launched.The deal, which was four times its minimum size, wipes out $4.4bn of Venezuela's Brady bonds -- more than half the country's $7.87bn outstanding Brady debt.

* European Investment Bank Rating: Aaa/AAA

PRIMARY market activity in Germany accelerated this week with news of two large rights issues from Volkswagen and Commerzbank. The German car maker is to raise DM6bn-DM8bn ($3.15bn-$4.2bn) in a capital increase that will be lead managed by Deutsche Morgan Grenfell, while Germany's third largest bank is to raise DM1.5bn ($830m) to bolster its investment banking operations.

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Crédit Lyonnais is expected to announce its long-awaited mandate for the second Cyber-Val securitisation today (Friday). Among firms in the running for the prized lead role among domestic banks are said to be Société Générale, CDC Marchés and BNP. Merrill Lynch is expected to have a key role. The bank has delayed choosing lead managers in the hope of a decision from the German authorities on a risk weighting for the transaction, since this will affect distribution in Germany.