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Hong Kong Techtronic Industries, maker of Ryobi cordless drills, yesterday (Thursday) raised $48.3m in an equity offering to fund a plant in Mexico that it will build with Japan's Komatsu Zenoah. The company sold 60m shares at HK$6.275, a 4.9% discount to its last traded price. Crédit Lyonnais Securities Asia is managing the sale. The stock will trade as normal today (Friday), having been suspended at HK$6.60 yesterday, pending the results of the offering.

Merrill Lynch held roadshows in Hong Kong and Singapore this week for a $288m securitisation of car loans by Samsung Capital Co. The South Korean finance company will launch the 144A deal in about three weeks, after further roadshows in London and the US in early May. Wrapped by monoline bond insurer FSA, Samsung Capital Auto 2002-1 will offer a single tranche of one month Libor floaters rated triple-A by Moody's and Standard & Poor's. The notes will amortise in 24 equal monthly instalments after a three year revolving period, with legal maturity in 2008.

Telkomsel made a triumphant market debut this week as it launched the most popular Indonesian high yield deal since the 1997 Asian crisis, surpassing the market's pricing expectations while doing so. The Indonesian mobile telephony company took advantage of strong regional demand for high yield transactions to issue a $150m five year non-call three Reg S bond.

CLP Power became the issuer of one of Hong Kong's most aggressively priced and heavily oversubscribed bonds on Wednesday, a $300m 10 year Reg S deal. The well respected Hong Kong utility attracted $2.6bn in demand for its transaction, meaning the issue was almost nine times oversubscribed. At this level of demand the A3/A+ corporate was able to virtually dictate pricing terms, and it ended up issuing at a tighter spread than all of its Hong Kong peers.

Daiwa SMBC and UBS Warburg are said to be ready to launch the next Japanese property trust IPO, for leasing company Orix Corp. Orix is believed to want to raise about ¥60bn by selling its real estate investment trust (REIT), which will include offices, hotels, houses and shopping complexes. Orix Corp is best known for providing lease and loan services.

After months of delay, Philippine Long Distance Telephone (PLDT) managed to ratchet out its looming debt redemption schedule in an impressive manner. The Ba3/BB- rated fixed line corporate gained such strong demand for its $350m two tranche issue that it launched the deal yesterday (Thursday), rather than on Monday as had originally been planned. The deal now stands as the largest regional high yield transaction since Asia Pulp & Paper's deals in 1997. Although it is expensive on a historical basis, its success was vital for PLDT to stave off $329m in redemptions and create a healthier debt profile. The transaction was launched hand in hand with a tender offer for PLDT's $125m 2003 and $204m 2004 deals.

Rating: A- (Fitch) Amount: Eu100m

A small group of relationship banks attended a meeting held in Helsinki yesterday (Thursday) for the Eu150m dual tranche debt facility for privately owned electrical company Teollisuuden Voima Oy (TVO). The deal is split into a Eu50m 364 day tranche 'A' and a Eu100m five year amortising term loan 'B'.

The Republic of Finland's pro-active debt management and investor relations work continued to pay dividends this week as the sovereign launched another highly acclaimed offering in the international markets. The deal is a Eu6.5bn 2013 government bond - the largest ever syndicated single tranche fixed rate issue in euros. Led by ABN Amro/ Alfred Berg, Barclays Capital, Citigroup/SSSB and Nordea, the deal was heavily oversubscribed, attracting a book of Eu19.8bn at its early price guidance, and achieved broad distribution across Europe, the US and Asia. With Finland's limited funding requirements, the large issue size was made possible by a simultaneous Eu3.835m buyback of the republic's April 2006 government bond. In addition, the State Treasury allocated Eu500m of the issue to its own repo facility in order to guarantee liquidity in the secondary market.

Guarantor: Finmatica SpA Amount: Eu100m

The Republic of Finland's pro-active debt management and investor relations work continued to pay dividends this week as the sovereign launched another highly acclaimed offering in the international markets. The deal is a Eu6.5bn 2013 government bond - the largest ever syndicated single tranche fixed rate issue in euros. Led by ABN Amro/ Alfred Berg, Barclays Capital, Citigroup/SSSB and Nordea, the deal was heavily oversubscribed, attracting a book of Eu19.8bn at its early price guidance, and achieved broad distribution across Europe, the US and Asia. With Finland's limited funding requirements, the large issue size was made possible by a simultaneous Eu3.835m buyback of the republic's April 2006 government bond. In addition, the State Treasury allocated Eu500m of the issue to its own repo facility in order to guarantee liquidity in the secondary market.

Guarantor: Ford Motor Credit Co Rating: A3/BBB+