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The exclusivity period for Terra Firma Capital Partners to bid for Waste Recycling Group, the UK waste management company, expired yesterday (Thursday) night without the fund having made a firm offer.

Charter Communications continued to climb this week on news that the company is pursuing an amendment that will give lenders an extra 50 basis points for their commitments. The term loan "B" traded in the 93 3/4 - 94 1/2 range on Monday before settling back down into the 92 3/4 - 93 3/4 context. Market players said the name also got a boost from asset sales, which set the value of each subscriber between $3,000-3,500. There continue to be rumors in the public markets that some type of debt to equity swap could be in Charter's future, but no concrete details could be determined.

Susumu Omori, Tokyo branch manager at Credit Suisse First Boston, has resigned for personal reasons, according to an internal memo (see below) obtained by DW. Paul Kuo, ceo in Tokyo, has assumed Omori's responsibilities, said Isamu Kajino, spokesman. Omori could not be reached. Kuo was co-head of the securities division (DW 7/21) and reported locally to Omori.

Credit Suisse First Boston (CSFB) has recruited Carlos Oyarbide from Morgan Stanley to become a managing director and head of its financial institutions group (FIG) non-Japan Asia Pacific.

Goldman Sachs and JP Morgan this week completed the $240.7m sale of a 15% stake in Daewoo Shipbuilding & Marine Engineering by joint holders Korea Development Bank (KDB) and Korea Asset Management Corp (Kamco).

Deutsche Bank has moved Philippines country officer Michael Hellbeck over to its Taipei office to become the new chief country officer and head of global banking division for Taiwan.

Asia Pacific's central banks are stepping up their plans to create a $1bn dollar bond fund that will purchase Asian sovereign bonds, to reduce reliance on non-regional investors and promote the region's bond markets.

Hong Kong

The Industrial Bank of Korea (IBK) wasted no time following in the sovereign's footsteps when it launched its own $400m five year bond to a favourable market reception yesterday (Thursday).

The first bank sector initial public offering from Indonesia since 2000 will be launched next week, following the Indonesian government approving this week the sale of a 15% stake in Bank Mandiri. Mandiri is by far the country's largest financial institution by assets and number of branches.

Australia

Soong Tuck Yin has returned to ING as a director and head of equity research for Singapore after nine years away.