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ndia Responses are due today (Friday) for the $48m, 4-3/4 year funding for Hindalco Industries, arranged by BA Asia.

Analysts from ING Barings gave an unorthodox view of the emerging European local currency bond markets at the Euromoney International Bond Congress today, saying that investors would do well to hire a meteorologist alongside their usual researchers.

The Republic of Ukraine is carrying out the long awaited completion of its Eurobond swap, lead managed by ING Barings and first launched in March last year, with an offer to replace the remaining DM28.7m (Eu14.7m) holdings of its 16% 2001. The deal marks a small milestone on the country's return to favour in the international markets, after it narrowly avoided default in the wake of the collapse of the 1998 Russian GKO market and devaluation.

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* Bank of Nova Scotia Rating: Aa3/A+/AA-

Hannes Leitgeb Aged 44 Head of treasury and asset management, Vorarlberger Landes-und Hypothekenbank How long have you been in MTNs? We signed our Euro-MTN programme on September 20 1999 and issued our first private placement exactly two months later on December 20 1999. What is your favourite part of the job? We like wheeling and dealing, therefore we like to be flexible in our targets to a certain degree in order to accommodate our order-flow. Who is your favourite dealer of the month? We appreciate any dealer that is fast when it comes to execution. Lately this has been Nomura, early last year it was Deutsche Bank. But Credit Suisse First Boston, UBS and JP Morgan have also done a great job. What has been the most interesting trade you've seen in the last few months? When we achieved Libor-49 bps funding in yen. What do you think will be the most important trend in the next quarter? As far as Vorarlberger goes we hope yen dual currency private placements will continue to yield our funding targets. What annoys you most about the market? We are pleased with the entire market. As an issuer (and therefore customer) we have the choice to deal with the most professional and friendly people only. Which of your competitors do you admire most and why? We do not have any competitors at all (in Austria!) If you weren't an MTN issuer, what would you be? A gentleman farmer on an estate in Austria. What car do you or would you like to drive? I drive a VW Golf but would like to drive a big fat Mercedes. What's your favourite restaurant? The Bombay Brasserie, London.

Leveraging off the coverage that has made EuroWeek the leading weekly newspaper of the international financial markets, euroweek.com will bring you daily news of the most important action in the loan, equity, bond and credit markets.

The Arab Republic of Egypt has finally mandated for its minimum $500m five to 10 year inaugural Eurobond, choosing Merrill Lynch and Morgan Stanley Dean Witter, in line with many bankers' expectations. Lead managers said that launch is still a month or two away, because of the paperwork and market testing needed for Egypt as a first time issuer.

Austria EuroWeek hears that JP Morgan is close to the financing backing the public to private buy-out of rayon fibre producer Lenzing AG. The company is being bought from Bank Austria by a consortium headed by private equity firm CVC. Last year CVC bought Dutch company Acordis, which is Europe's biggest fibres producer. The deal was backed by a Eu276m loan arranged by Chase Manhattan.

It was around 9.15pm on Monday this week when the lights on our telephone system at home in the country began to sparkle like a Christmas tree. A very good Gresham duck for dinner had to be abandoned to the labradors but with the remains of a very acceptable bottle of claret at our side, we began answering calls. And wasn't some of the news mind-blowing? The big wheels at Lehman Brothers were walking away with so many bags of swag and booty that a convoy of armoured trucks had been seen leaving the company's Wall Street HQ at the World Financial Center. Had chairman and CEO Richard Fuld earned close to $30m? And if so, was that before a slew of options with an exercise price 50% below the current market value. And had our London friend, Jeremy Isaacs, whom we voted one of our "Bankers of the Year 2000", received $20m? By any standards, that is a huge wedge and who said that you have to have been to Oxbridge and possess an MBA to get to the top in the Euromarkets?

UK bank Abbey National this week announced that it has closed its first collateralised bond obligation, a $510m synthetic issue launched by sole manager Bear Stearns on the last working day of 2000. Marylebone Road CBO 1 Ltd is backed by an investment grade pool of mainly US corporate bonds and credit default swaps. Abbey plans more CDOs this year.

South Africa EuroWeek hears that Absa Bank is coming to the market for a $250m one year term loan. The bank came to the market in August last year with a $300m three year term loan. The margin was 80bp over Libor with a top ticket of $15m for 40bp. The mandated arrangers were Bank of Tokyo-Mitsubishi, Citibank, DG Bank, KBC Bank, Bayerische Landesbank, Dai-Ichi Kangyo Bank and Fuji Bank. Proceeds of the facility were for general corporate purposes.