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The Republic of Chile has decided to forge ahead with a $500m-$650m 10 year global bond, despite worsening emerging market conditions. Lead managers JP Morgan and Schroder Salomon Smith Barney will begin roadshows in London today (Friday) and plan to price the deal for the Baa1/A- sovereign late next week. Participants are hoping that the deal, which is expected to be priced wider than 240bp over US Treasuries compared with a 215bp spread on its outstanding 2009 dollar bonds, will make a much needed positive statement about the Latin American new issue market as a whole.

* Province of British Columbia Rating: Aa2/AA-

Citibank has been awarded the mandate to arrange the debt facility backing Texas Pacific's Nkr5.8bn buy-out of Norwegian telecommunications group Telenor's directories business Telenor Media. Contesting Citibank were Telenor's financial advisers Credit Suisse First Boston and Deutsche Bank.

Colt Telecom Group, the ailing UK telecoms carrier, has won a £400m lifeline from its major shareholder Fidelity Investments. US mutual fund Fidelity, which owns 47.7% of Colt, has agreed to underwrite an open offer which will ensure that it is fully funded for the foreseeable future. Morgan Stanley is advising Colt on the issue.

* JP Morgan is now marketing the equity tranche of Jubilee, the Eu500m arbitrage CDO it is lead managing for Barclays Bank, securitising European high yield debt. The deal is expected to be closed by the end of the year. * Rabobank and Fortis Bank are expected to launch a Eu1.5bn securitisation in November backed by residential mortgages originated by ASR Bank, part of the insurance-based group AMEV Stad Rotterdam that was taken over by Fortis last year.

Italian car manufacturer Fiat is preparing to launch its third auto loan securitisation next week, but this time the commercial and individual auto loans backing the notes will be from Fiat's German car customers. Lead managed by Deutsche Bank, Société Générale and UniCredito, the Eu850m Alpha bond series offers a single Eu765m tranche of notes rated triple-A by Moody's and Standard & Poor's (S&P) with an average life of 4.4 years. Price talk this week was around 26bp over three month Euribor.

The Greek government is preparing to do its third securitisation - a Eu2bn deal that will be backed by payments from the European Commission to the Hellenic Republic under the third Community Support Framework (CSF III). Lead managed by BNP Paribas, Deutsche Bank, EFG Eurobank Ergasias and National Bank of Greece, the transaction will be the culmination of almost a year of speculation about what the country's next securitisation would be.

HVB Real Estate Bank yesterday (Thursday) launched its first public securitisation, a Eu1.31bn synthetic residential mortgage transaction. Lead managed by Commerzbank Securities (books) and HVB Real Estate, HVB Real Estate 2001-1 was delayed by the events in the US and priced wider than intended, but HypoVereinsbank was pleased with the outcome and perceived a flight to quality on the part of investors.

JP Morgan last Friday launched the first tranches of an innovative Eu450m collateralised debt obligation for Intermediate Capital Group (ICG), one of Europe's largest mezzanine finance companies. Promus-1, backed by euro denominated leveraged loans, mezzanine loans and high yield debt, is the third arbitrage CDO the asset manager has brought in as many years.

Dresdner Kleinwort Wasserstein has hired Ulrich Neuhauss, director in credit derivatives sales at Bankgesellchaft Berlin in London, as a director for its London-based structured credit sales group. He started Monday and reports to Raffaele Ricci, head of structured credit sales, Europe. Ricci said Neuhauss will fill a newly created role, noting the bank is adding to the team because it "sees a lot of potential in structured credits." Neuhauss' hire brings the structured credit sales team up to a dozen staffers, Ricci said.

UBS Warburg and Bank of America in two weeks will launch general syndication of their $3 billion term loan backing Devon Energy's acquisition of Anderson Exploration. General syndication is ready to roll now that $3 billion of bonds-the other part of the financing package--were sold last week. A UBS banker said, originally the top-tier banks were allocated $600 million pieces, and now each bank will syndicate $300 million as the bonds take out the first two to three years of bank debt. The bank meeting will be Oct.18, he said, though fees have not yet been set. The $3 billion of bonds was split into $1.75 billion of 10-year notes priced at 6 7/8% and $1.25 billion of 30-year notes priced at 7 7/8%.

J.P Morgan is looking to syndicate a $675 million debtor-in-possession facility for Federal-Mogul after the company filed for Chapter 11 restructuring and administration under the United Kingdom Insolvency Act. Leigh Pierce, spokeswoman for J.P. Morgan, said a bank meeting is planned in the next couple of weeks, though pricing and an exact date have not yet been determined. Jim Fisher, spokesman for the auto-parts company, said the DIP facility is a global facility, though he could not name any other banks leading the deal. No specific timeframe has been set for the company to emerge from Chapter 11, "it will be years rather than months," noted Fisher. The aim of filing is to structure payments for claimants resulting from asbestos litigation.