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ST Assembly Test Services (Stats), Asia's second largest chip tester, raised $175m overnight in a five hour bookbuild on Wednesday through Merrill Lynch. The deal started out at $150m plus greenshoe, secured $600m of orders between 5pm and 10pm Hong Kong time and was completed at $175m plus a $25m greenshoe.

Japan Morgan Stanley was preparing the equity capital markets yesterday (Thursday) for a rare appearance from a Japanese issuer. The bank was marketing a ¥20bn EuroCB for JSAT, the satellite television enterprise that floated on the Tokyo Stock Exchange in 2000.

Globe Telecom and Philippine Long Distance Telephone (PLDT) are looking to repeat the success of the sovereign and launch their own international transactions in the coming weeks. The two corporates hope to take advantage of the favourable investor disposition towards the Philippines and the low interest rate environment. Globe Telecom plans to access the market in the coming weeks with a $175m-$200m 10 year issue and PLDT will follow in either April or May with a $350m-$500m transaction, which is also likely to have a 10 year tenor.

PT Medco Energi became the first Indonesian corporate to access the international fixed rate bond market in four years when it launched a $100m five year transaction this week. But observers said the B+ rated transaction had to be decreased from $150m and that it was priced with a 10.5% yield - wider than original expectations of 10% or less.

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.