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Allco Management is targeting the Australian market for the flotation of a new company, Record Investments, which will focus on equipment leasing, asset securitisation and also act as a preferred investor in Allco originated deals. The firm has filed documents to float Record and in the process raise an initial A$100m.

Pohang Iron & Steel Corp (Posco) will further cement its relationship with Japanese bond investors later in the first quarter when it launches its third Samurai bond issue in less than a year. The steel producer has obtained bids from several investment banks to arrange a ¥30bn five year Samurai deal, with the final decision on the mandate likely to be announced today (Friday).

The Taiwan government is hoping to price the $3.4bn Chunghwa Telecom American Depository Receipt (ADR) offer at a premium to the company's ordinary shares listed in Taipei when the deal comes to the market after the Chinese new year, according to bankers. Only 2% of the company is listed in Taipei, while the ADR sale represents more than 12% of the issued capital. Goldman Sachs is global co-ordinator and the joint bookrunners are Merrill Lynch and UBS Warburg.

The uncertain climate for new issues might encourage the Chinese authorities to price the forthcoming China National Offshore Oil Corp (CNOOC) transaction to sell, according to bankers working on the deal. While most bankers and investors believe CNOOC will be a relatively easy transaction, there is little excitement so far. "The key to all these issues nowadays is pricing, and the Chinese authorities understand the markets," said one banker.

Hong Kong ANZ Group accessed the Hong Kong dollar debt markets for HK$270m of five year funding this week. HSBC lead managed the deal, which was increased from HK$220m.

Australia The Austereo IPO will proceed today (Friday), according to bankers close to the deal. Credit Suisse First Boston, Macquarie Bank and Merrill Lynch will begin marketing the circa A$500m issue, which will involve the spin-off of the Austereo assets from listed company Village Roadshow.

Bank of East Asia (BEA) is set for a strong international reception early next week when it launches its debut subordinated debt issue. The $500m 10 year non-call five lower tier 2 deal is now likely to be priced on Monday, following a slight delay in the roadshow to accommodate last Monday's Martin Luther King Day in the US. JP Morgan is lead manager for the Baa2/BBB rated deal, which is being launched through BEA subsidiary East Asia Financial Holding. Barclays Capital is co-manager.

Telia, the Swedish telecom company, has made its first issue in the Euro-MTN market this year with a six-year FRN that pays a final coupon of euribor + 0.075%. The note will be issued on February 2 2001 and the bookrunner off the issue is Swedbank. The note is only Telia's sixth issue since it signed its $2 billion Euro-MTN programme in November 1997. All of Telia's issues in the last 12 months have been denominated in euro.

Bankers covering central and eastern Europe are eagerly awaiting news of three sovereign mandates for euro denominated issues. The deals - for Croatia, Lithuania and Slovenia - will follow the year's first new offering from Poland. The Republic of Poland starts the European roadshow for its minimum Eu500m 10 year deal on Monday. Deutsche Bank and Merrill Lynch are lead managing the deal, which will be Poland's first since its blowout Eu600m 10 year deal last March, led by BNP Paribas and Credit Suisse First Boston.

Mitsubishi Electric Finance has made its first foray into the Euro-MTN market this year with three trades, all maturing at different times. The first, a ¥5 billion ($42.38 million) note matures on November 29 2001 and pays a single final coupon of 0.57%. The second trade, which goes out to January 30 2002, is for ¥1 billion and pays 0.55%. The third, also a ¥1 billion note, matures on January 30 2003 and pays interest semi-annually. Since the beginning of 2000 the issuer has raised $248.69 million-worth of debt off its Euro-MTN programme from 13 yen deals.

Long-dated yen trades were a theme, with four issuers selling 20-year private placements. Bayerische Landesbank and African Development Bank both issued ¥500 million ($4.23 million). The first pays a final coupon of 2.5% and pays interest semi-annually. The second pays a final coupon of 3.6%. Export Finance & Insurance Corp (EFIC) and Hamburgische Landesbank issued notes of ¥1.1 billion, paying a final coupon of 3.65%, and ¥1 billion, paying a 4% final coupon, respectively.

Ukraine has been in discussions with the Paris Club to agree on an agenda for talks to reschedule around $700m of debt, with early March certain to be the starting date. The Caa1 republic faces a $500m shortfall in reserves to meet its $2bn 2001 international obligations. Vitali Lisovenko, head of external debt at the Ukrainian finance ministry, told EuroWeek that he expects the Paris Club talks on basic principles of the restructuring to take only a few days, with follow-on bilateral talks with each of the country's 10 sovereign creditors lasting some months.