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LGT Bank in Liechtenstein (LGT) signed a $1 billion Euro-MTN programme on November 8 and UBS Warburg has scooped the arrangership. LGT Finance has also been appointed as an issuer off the programme. It is the fourth Euro-MTN programme UBS Warburg has arranged this year. The dealer panel off LGT's programme consists of the arranger, the issuer, Credit Suisse First Boston and Deutsche Bank.

The Republic of Lebanon has tapped its $600m 9.5% 2004 bond for $250 via Morgan Stanley and Salomon Smith Barney, in what the republic expects to be its last foray into the Euromarkets this year. The issue came at a spread of 675bp over Treasuries. "According to our parliamentary allocation, we can still issue up to $700m more this year," said Jihad Azour, head of new issues at the Lebanese treasury.

Legal & General (L&G) re-opened the sterling convertible market this week with a £525m deal to finance the internal transfer of its fund management business. Goldman Sachs and UBS Warburg lead managed the deal,which is the largest convertible ever in the sterling markets. The largest sterling equity linked deal is the £686m exchangeable into Orange which British Aerospace launched in June 1999.

Diners Card Finance has signed a euro2 billion ($1.77 billion) asset-backed MTN shelf. Salomon Smith Barney is the arranger and sole dealer. Rathgar Capital Corp has signed an asset-backed Euro-CP and an asset-backed Euro-MTN facility. Merrill Lynch is arranger off both facilities. The Euro-CP dealers are the arranger, Barclays Capital, Credit Suisse First Boston, Deutsche Bank, JPMorgan, Lehman Brothers and Morgan Stanley. The same dealers have been added to the Euro-MTN shelf, but Goldman Sachs and Mizuho also join them. The programme sizes were not confirmed at time of publication.

Three new issuers are rumoured to be coming to the MTN market in the near future. Scania is due to sign a euro1.5 billion ($1.32 billion) Euro-MTN programme; Shinsei Bank is set to complete a $5 billion MTN programme; TCB Card is putting the finishing touches to a ¥20 billion ($164.53 million) MTN programme. And Corporacion Durango is due to sign a $100 million Euro-CP facility.

Competitors have suggested that Merrill Lynch is reorganising itself in a desperate effort to prevent itself from losing out to rivals in Asia. Lou Wolfe, head of investment banking for Asia Pacific and Australasia, and Steve Theobald, head of financial institutions group (FIG), have left the bank, along with other members of the FIG team.

* It has emerged that M&A dealmaker Bruce Wasserstein was in discussions with Lazard for many years before finally tying his future to the firm late last week. Lazard announced on Friday November 16 that Wasserstein had been appointed to replace Michel David-Weill as head, while Dresdner Kleinwort Wasserstein confirmed his departure as executive chairman.

Kuwait EuroWeek hears that the one-stop syndication for the refinancing of the international debt facilities for Equate Petrochemical Co KSC is on the verge of being signed. This is a fast and positive result for the Middle Eastern loan market and is likely to provide the momentum for a number of other deals to get underway in the last weeks of the year.

Croatia The Republic of Croatia is preparing to send out RFPs next week for an up to Eu500m seven year Eurobond it hopes to launch in the first quarter of next year, according to Hrvoje Radovanic, assistant to the Croatian minister of finance.

Nomura's new head of securitisation and asset finance, Tariq Rafique, this week made a bold step towards restocking the bank's severely depleted team in London. Nomura hired five staff, including two of Rafique's former colleagues from ABN Amro - Neil Basu and Olivier Defaux.

Nomura's new head of securitisation and asset finance, Tariq Rafique, this week made a bold step towards restocking the bank's severely depleted team in London. Nomura hired five staff, including two of Rafique's former colleagues from ABN Amro - Neil Basu and Olivier Defaux.

* Bayerische Landesbank Girozentrale