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St George Bank of Australia launched its fourth global mortgage securitisation this week into a market still ravenous for high quality asset backed paper. Helped by the continued shortage of issuance, lead manager JP Morgan priced St George's single senior tranche, worth $880m, at 16bp over three month Libor. The spread matched the level achieved by Westpac with its $1.1bn issue last week via Citigroup/SSB.

Transco has made a remarkable debut in the Australian bond market with a A$500m five year transaction yesterday (Thursday). The UK gas distributor took advantage of thin supply in a vibrant secondary market to launch the transaction. RBC Capital Markets was sole lead manager for the issue, with ABN Amro, Commonwealth Bank of Australia and National Australia Bank as co-managers.

Agrokor has ended an agonising wait to enter the international bond markets, issuing a Eu130m five year debut Eurobond. Credit Suisse First Boston was joined by Deutsche Bank as joint bookrunner, with Privredna banka Zagreb as joint lead.

Morocco The advisory mandate for a $700m expansion financing at the Samir oil refinery has been awarded to Deutsche Bank and local financing house, BCME Capital.

Frank Bramble, the chairman of Allied Irish Banks (AIB) subsidiary Allfirst Financial, has announced his retirement, effective June. A further six senior executives have been fired. The boards of Allfirst and AIB have decided to dismiss: Allfirst's executive vice president and treasurer David Cronin; Jan Palmer, a senior vice president in treasury operations administration; Robert Ray, a senior vice president of treasury funds management; assistant vice president of operations and financial analysis Lawrence Smith; the head of internal audit, Michael Husich, and Lou Slifker, team leader in internal audit.

The UK life sciences firm Amersham has completed a £400m accelerated bookbuild to finance its acquisition of the shares in Amersham Biosciences that it did not already own. The deal, which was led by Morgan Stanley and Hoare Govett, takes Amersham's control of the business to 100%, from 55%. Amersham had previously hoped to float the company, but shelved this plan last year as the equity markets closed.

Australia Arrangers ANZ Investment Bank and Citigroup/SSB Australia have launched a A$630m facility for National Rail Consortium to sub-underwriters.

Hong Kong BOCI Capital, Citigroup/SSB, Hang Seng Bank, HSBC and SG have been officially mandated for the HK$1.6bn five year revolver for Shanghai Industrial Holdings.

Asia Pacific * Bauhinia MBS Ltd Series 2002-1

Transactions increased: * Deutsche Australia Ltd

Brazil's Banco Itau scored a coup this week by pricing a $250m five year final maturity MT-100 securitisation as much as 50bp tighter on a fixed rate basis than recent comparable transactions. The triple-A XL Capital-wrapped offering, led by Bank of America, was priced at 70bp over six month Libor, in the middle of its 60bp-75bp price range and at an equivalent level to 130bp over Treasuries.

Barclays Capital has created the new position of head of Italian debt capital markets, and has hired former Merrill Lynch banker Ottavio Muzi-Falconi to fill it. The firm is keen to win more mandates in the Italian market, which is an important part of any bank's European DCM franchise and shows potential for growth this year.