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Region of Sicily has upped the limit off its euro1.7 billion ($1.50 billion) global MTN shelf to euro3.2 billion. The programme has euro1.2 billion outstanding off two issues.

Republic of Cyprus is planning to raise the limit off its $1 billion Euro-MTN programme to $2 billion.

Russia's seventh largest oil exporter, Rosneft, finally issued the first corporate bond from Russia since the 1998 crisis on Tuesday via ABN Amro and Dresdner Kleinwort Wasserstein. The bond is undoubtedly a landmark issue. However, as a bellwether of investor appetite for the long queue of untested and unfamiliar corporate credits from the region, the deal was a disappointment, not least for fellow oil company Sibneft, which was mid-way through the roadshow for its own Eurobond at the time.

RTL Group has put its name to a euro2 billion ($1.77 billion) Euro-MTN programme. Deutsche Bank and Schroder Salomon Smith Barney are the arrangers. The signing follows RTL's euro1 billion Euro-CP programme and its euro900 million multi-currency revolving credit facility that were set up earlier this year. The issuer does not have immediate funding plans but Francois Masquelier, head of treasury and corporate finance at RTL, believes that the programme would prove useful if RTL plans to buy another media company. The programme is rated A3 and A- by Moody's and Standard & Poor's. The dealers off the programme are the arrangers, BNP Paribas, Commerzbank Securities, HSBC CCF, JPMorgan, Merrill Lynch and SG.

Sanyo Shinpan Finance has added Credit Suisse First Boston, Daiwa Securities SMBC Europe and Morgan Stanley as dealers off its ¥50 billion ($411.32 million) Euro-MTN programme.

Finland A full list of banks joining the Eu100m multi-currency facility for Konekranes Finance has been released.

The Asian corporate debt market could be set for a hectic first quarter after Singapore Telecommunications (SingTel) wowed global markets yesterday (Thursday), when it launched the largest global bond issue from Asia in the last three years.

The Asian corporate debt market could be set for a hectic first quarter after Singapore Telecommunications (SingTel) wowed global markets yesterday (Thursday), when it launched the largest global bond issue from Asia in the last three years.

* DaimlerChrysler North America Holding Corp Rating: A3/BBB+

The books for the long awaited Eu2.3bn IPO of Snam Rete Gas, the Italian gas distribution network, opened yesterday (Thursday). All eyes will be on the Italian utility. This is the first jumbo IPO to hit the European markets since Merrill Lynch raised £2.5bn for Friends Provident in July. "It will be very interesting to see how they fare," said one equity capital markets banker not involved in the deal. "It could prove to be the boost we need to start 2002 off on the right foot."

* European Investment Bank Rating: Aaa/AAA

Clifford Chance has been hit by a team defection in its Italian securitisation practice. Alberto Del Din, one of the leading lawyers in the field, is leaving Clifford Chance to establish a structured finance practice at Italian firm Bonelli Erede Pappalardo.