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Deerfield Capital Management, the Chicago-based fixed income specialist, is on the road with a new $300 million collateralized loan obligation called Forest Creek 2003-1. Bear Stearns is the lead arranger for the cash-flow arbitrage deal, which comprises leveraged loans, said a banker. Questions regarding Forest Creek were referred to Jon Trutter, Deerfield's CIO, who declined comment citing the private nature of the deal. A banker at Bear also declined comment.

Deutsche Bank and Wells Fargo Bank have filled the book on a $250 million deal for Veritas DGC after a three-month ride through the loan market. The credit began at $275 million and was reduced to $265 million, with a raft of pricing and structural changes in December (LMW, 12/23). Another $15 million was later shaved off the pro rata.

A modest and restricted domestic January IPO was easily overlooked by observers of the international markets. But it brought shareholders the first opportunity to take a stake in CIMB – the only publicly-listed investment bank in Malaysia. By Chris Wright

MORGAN LOSES TWO IN TOKYO

Providers of wealth management services should focus more on Asia, if a recent report from CLSA is to be believed. It claims Asia will drive global growth for at least the next decade and that the turnaround will be driven by a region-wide willingness to spend, spend, spend. By Chris Wright.

Goldman/Sumitomo Mitsui deal shifts landscape

Collecting Chinese art is an intriguing yet complex investment proposition. Rosemary E Scott, senior academic consultant to the Asian art department of Christie's, offers an insight.

Where should investors be focusing their attention in Asia? North or south? At the second annual Asiamoney equity forum held at Hong Kong's Ritz-Carlton Hotel on November 20, six market players attempted to answer these questions and offered their expert opinions on trends, industries and cross-border investments.

Charles Dickens and Asia's wealthy may have little in common, but private bank Coutts continues to rely on its 300-year history to market its products in the region. Chris Wright reports on the relevance, or otherwise, of tradition in the 21st century world of private banking.

Last year was not one to remember for many bankers, issuers or investors. But there were bright spots along the way. Hardship led to innovation in corporate restructuring, and the benchmark borrowers of the region came into their own. These are the transactions that provided a silver lining to a very cloudy year.

Headhunters polarize opinions among the banking community, judging by the two individuals that dominate our poll. One builds his image on discretion and low profile; the other couldn't be low-profile if he tried. Both have their loyal supporters who can't imagine taking their business elsewhere. By Olivia Chow and Robert Law.

Paul Keating makes no bones about the fact he believes in China. He is less forthcoming about whether he is an advisor to the Chinese government. In the first of a two-part interview with Pauline Loong, the former Australian prime minister shares his views on the country's ability to meet its goals over the next two decades. Former Australian prime minister Paul Keating is one of the great figureheads of Asia-Pacific politics. Swept into power as the leader of Australia's Labor Party, he embarked on economic reforms which transformed the country's business environment.