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After all the arguments, backbiting, criticism and counter-criticism Argentina's big day is upon us.

“Pakistan has the most safe and sound banking system in South Asia due to far-reaching reforms in the financial sector"

BNZ has new FIG head

The Philippines gained some rare attention in the Asian equity market on Wednesday, when First Pacific Co, the Hong Kong listed investment company, sold a $199m bond, exchangeable into shares of Philippine Long Distance Telephone Co (PLDT), the Philippines' largest and most internationally held company. First Pacific, which owns 24.3% of PLDT, issued through First Pacific Finance Ltd, a special purpose company. UBS was lead arranger and closed the books roughly three times covered, despite the lowly credit standing of First Pacific and the fact that the underlying 6.8m shares ? about 4% of PLDT's equity ? represents about 50 days' normal trading in the stock.

The Philippines' Universal Robina Corp found strong investor demand as it sold a rare Philippine corporate bond this week ? the first since Globe Telecom's last July.

JAPAN

ASIAN CURRENCY BONDS

Kumho Tire, the South Korean tyre maker, is to list about 40% of its shares in Seoul and London for around $400m.

With a host of deals slated for the first quarter, the Asian bond market is in robust shape, especially in the high yield sector.

AUSTRALASIA