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Yukos Universal yesterday (Thursday) launched a $147m accelerated sale in Yukos, its 65% owned oil subsidiary. The deal was led by UBS Warburg and Credit Suisse First Boston, and is the latest offering to take advantage of an upturn in sentiment in emerging markets. Two weeks ago Wim-Bill-Dann brought the first Russian IPO since July 2000, after seeing the Russian stock exchange rise by 52% in dollar terms in 2001.

Nigeria The details of the $1bn of project financing facilities for Nigeria LNG are being finalised and the transaction is expected to be launched to the market towards the end of March.

Bankers in continental Europe have heard early price talk for Agrokor's Eu150m-Eu200m five year Eurobond via Credit Suisse First Boston of 10.5%-11%, although one banker in Croatia said he had been sounded out by a potential co-lead of the deal at a 10% coupon level. There is also confusion as to when the deal will be launched, with two continental bankers saying it would come mid to late next week, but one in London saying he doubted launch would be before mid-March.

Australia Co-ordinating arranger JP Morgan has received an overwhelming response from the market at the sub-underwriting level for the A$850m acquisition financing for APN News & Media through Biffin Pty.

China Bankers are taking a keen interest in Petrochina's possible acquisition of Husky Energy, a Canadian integrated oil company controlled by Li Ka-shing.

Transactions increased: * Bank Nederlandse Gemeenten NV

Asia Pacific * Apollo Series 2002-1 Trust

Never let it be said that we are not sometimes slightly ahead of the news. In issue 737 of EuroWeek on January 25, we said that CSFB's John Mack was about to ring the changes in his floundering investment banking division, and that many senior heads would be used as croquet balls for Mr Mack's sumptuous country estate outside New York. And who did we name as the man most likely to take over the struggling division? We said that Mack would turn to his trusty former colleague, Walid Chammah, who would cut the CSFB investment banking prima donnas down to size and off at the knees. And what happened? Before you could say, "did Linda Robinson in John Mack's office receive our Valentine card?", there was the grand announcement that Chammah was joining CSFB as co-head of investment banking.

Banca Nazionale del Lavoro has doubled the debt limit of its Euro-MTN programme from euro5 billion ($4.35 billion) to euro10 million. The debt facility was signed in 1993 via Banca Nazionale del Lavoro and UBS Warburg. The programme has $3.6 billion outstanding off 72 trades.

BASF, the German chemicals manufacturer, has lifted the ceiling off its global CP programme from $2.3 billion to $5 billion. The programme was signed in July 1999 via Citibank. The shelf is rated P-1 by Moody's and A-1+ by Standard & Poor's.

The continued volatility of stocks across all sectors in 2002 has left little opportunity for issuers to raise money through the equity markets, the Eu1.3bn BHW debacle last week being the latest blow to the sector. This week EuroWeek conducted a straw poll of 10 ECM bankers and five fund managers in an attempt to analyse how this latest flop has affected the confidence of bankers and investors alike.