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Euro trading ended the week relatively well, as 15 trades were closed. Most deals done were for low volumes and short maturities. ABN Amro Bouwfonds Nederlandse Gemeenten closed the largest issue - a euro150 million ($133.94 million) note that has a three-year tenor. The note pays interest quarterly. Crediop Overseas Bank closed four-year euro10 million and euro20 million MTNs. Both notes pay interest annually. Bank Austria split euro80 million over two trades. It did a 25-year euro50 million note that pays interest semi-annually. And it closed a euro30 million note that goes out to August 21 2033. Credit Lyonnais Finance (Guernsey) was even busier, as it closed three notes for euro11.67 million. NIB Capital Bank went for a euro1.45 million MTN that matures on October 18 of next year. While fellow Dutch issuer, Rabobank Nederland, did a nine-year euro15 million note.

GlaxoSmithKline (GSK), the UK- based pharmaceuticals company, has put its name to a £

Public Power Corporation, the Greek electricity utility, disappointed investors by sliding on its first few days of trading, after it priced its Eu463m IPO last Friday. Banker hoped the deal, which was priced at Eu12.70 from a range of Eu12.30-Eu14.70, would re-ignite interest in Greece. But the transaction, which started trading on Wednesday, had fallen to Eu11.74 yesterday (Thursday).

Brazil The $75m USCP back-up facility for Unibanco-Uniao de Bancos Brasileiros SA, arranged by Barclays Bank (Miami), has been closed oversubscribed and increased to $100m.

Legal & General has increased the limit off its Euro-MTN programme to $2 billion from $1 billion.

* Salomon Smith Barney continued its drive to strengthen its Asian investment banking team this week, announcing that Steve Winningham is relocating from New York to Hong Kong. Winningham, a managing director, has been with Salomon since 1996 and was previously the co-head of US telecommunications investment banking. His new role is co-head of Asian telecoms along with Greg Mazur, and head of media investment banking. He starts in January 2002 and will report to Sanjiv Misra, managing director and head of Asian investment banking.

Oman Shareholders of Oman-based Bank Muscat and Industrial Bank approved the merger of the two banks this week.

* Landwirtschaftliche Rentenbank Rating: Aaa/AAA/AAA

Croatia The Republic of Croatia intends to issue its second euro denominated domestic bond today (Friday), via local banks Zagrebacka banka and Privredna banka.

France Communications company Publicis Groupe sold a Eu174m exchangeable yesterday afternoon (Thursday) into Interpublic Group of Companies (IPG).

The downgrade of NTL to single-B credit status by ratings agency Standard & Poor's (S&P) and the 30% fall in its share price to 64 cents prompted a furore this week over its £3.15bn of outstanding syndicated loan debt. However, EuroWeek hears that loan bankers are relatively relaxed about the latest potential default of a Euromarket borrower from the telecoms sector. NTL is a UK- based cable, telecoms and internet provider.