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Deutsche Bank has launched a Eu250m three year multi-currency revolver for Merck, the German pharmaceuticals corporate.

KPMG Corporate Finance has added a senior investment banker to its technology, media and entertainment (TME) team with the appointment of Malcolm Strang as a partner in its London office. Strang will draw on over 15 years' experience in corporate finance, including his last role as director of investment banking at Credit Suisse First Boston.

* CA IB Vienna CEO Willi Hemetsberger has joined the management board of Bank Austria with responsibility for international markets. His appointment follows the integration of the investment bank with parent company Bank Austria, which was recently merged with HypoVereinsbank. Hemetsberger joined CA IB in 1998. Before that, he was head of emerging markets equity derivatives for Citibank in London. He replaces Bank Austria's previous international market head, Wolfram Littich, who left to join insurance firm Allianz.

Morgan Stanley Dean Witter has issued a research report highlighting worse than expected performance on the first UK student loan securitisation, which it believes will cause a reallocation of payments among the notes.

Nationwide Life Global Funding has signed a $2 billion global debt issuance programmme. Credit Suisse First Boston and Salomon Smith Barney jointly arranged the facility. The dealers off the programme are the arrangers, ABN Amro, Bear, Stearns, Merril Lynch, Morgan Stanley Dean Witter and UBS Warburg.

The European primary equity market shuddered to a halt this week. It had been slowing down since mid-2000, but a wretched week for the secondary markets ensured that it is has become almost impossible to persuade funds to invest in equity. The FTSE 100 index in London, for example, fell below 6,000 points for the first time since April 2000, and finished on Tuesday at 5,972, its lowest close since October 1999. The Neuer Markt in Frankfurt also had a torrid week, with the Nemax 50 index reaching record lows, at 1,995 points yesterday (Thursday).

Bulgaria Bulgaria's deputy finance minister Plamen Oresharski has said the country intends a Eu150m-Eu200m Eurobond in the second half of 2002, following approval of a debt management plan that maintains provisions in the 2001 budget.

New Turkish loan launches are on hold as banks wait to see how the country's financial crisis will be resolved. Turkey's second financial crisis in the last three months comes as the Turkish loan market looks to regain its confidence.

* National Australia Bank Ltd Rating: Aa3/AA/AA

Freddie Mac is due to price its latest EuReference Note on Tuesday. The deal, a Eu5bn three year note, is the third issue in the series of four quarterly euro denominated benchmarks that Freddie Mac has committed itself to issue. BNP Paribas, Lehman Brothers and Merrill Lynch have the mandate.

* Landesbank Rheinland-Pfalz Girozentrale Rating: Aa1/AA/AAA

Despite increasing Japanese investor caution against Samurai bond issues, Pohang Iron and Steel Corp (Posco) successfully accessed the Samurai market this week. However, Deutsche Telekom could not escape the overriding market pessimism and was forced to delay its plans to launch a ¥100bn transaction.