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A full breakdown of non-syndicated debt issued in the fourth quarter of 1999: by currency, by issuer type, by ratings, by term and by issuer nationality.

Aiful Corporation has increased the limit off its ¥50 billion ($457.46 million) Euro-MTN programme to ¥100 billion.

Citibank/SSSB (bookrunner), Bank of Tokyo-Mitsubishi (bookrunner and information memorandum) and Dresdner Bank (bookrunner, facility and documentation agent) have launched the debut $100m 364 day term loan for BoE Bank into general syndication. The deal closed oversubscribed after the first round. Before general, Commerzbank, First Union National Bank, Fuji Bank, Standard Chartered and Sumitomo joined as arrangers. American Express Bank, Crédit Lyonnais and KBC (Dublin) have joined as co-arrangers.

"Between you, me and Frankfurt banking circles," said a banker in Commerzbank's Frankfurt office, "if they took a vote inside the bank tomorrow, Müller would get 90%." It is traditional in German banks for the chair of the Vorstad to resign at the first AGM after their 65th birthday. Commerzbank's chairman, Martin Kolhausen, will be 65 before Commerzbank's next AGM in May, and is due to retire. Although no decision will be officially taken until the supervisory board meeting on November 13, the board is expected to nominate Klaus-Peter Müller.

Argentina is gearing up to return to both the euro and dollar markets, with Santander understood to have been awarded a mandate for a two to four year Eu500m deal, while US investors position themselves in the dollar market for a long dated issue. Santander would not comment yesterday (Thursday), but it is believed to have won a mandate with the argument that it would open up a new market in Spain for Argentina by registering the deal with the Spanish securities commission. "It is a bit of a joke on Santander's part to say 'we will develop a new market for you'," said a banker at one competing securities firm. "If they thought there was a market there to be developed, why didn't they do that over the last few years? Santander can go and sell it to anyone."

Hong Kong Arrangers Chinatrust Commercial Bank (Hong Kong), Commerz (East Asia) and Standard Chartered Bank have launched a HK$350m equivalent fundraiser for consumer finance company United Asia Finance.

Australia Syndication for AlintaGas' A$450m fundraiser will close shortly. Several banks are said to have joined lead arrangers Citibank (Australia) and Westpac Banking Corp.

Europe * Amstel Consumer Loan Securitisation Co 2000-1 BV

* Commonwealth Bank of Australia Rating: Aa3/AA-/AA

Aventis, the French pharmaceutical company, signed its long-awaited euro1.5 billion ($1.31 billion) Euro-MTN programme on September 20 via UBS Warburg. The dealers off the facility are the arranger, BNP Paribas, Deutsche Bank, Morgan Stanley Dean Witter, and Salomon Smith Barney. The programme, rated A3 by Moody's, marks the ninth French corporate issuer to come to the market this year. It has been a busy period for French corporates, with French signings making up 41% of all new corporate programmes this year. Aventis, formed when France's Rhone-Poulenc and Germany's Hoechst merged, has become the world's number one drug company. As a pure life-sciences company, Aventis makes animal health products, herbicides, pesticides, cancer drugs, and other pharmaceuticals. Rhodia, a spin-off from the same merger that produced Aventis, also signed a euro1.5 billion Euro-MTN shelf this year. The facility has $750.53 million outstanding off two trades.

Financial advisory group AWD is offering shares at an astonishing discount to its closest comparables in its Eu535m-Eu614m IPO. The company is selling 9m shares at Eu54-Eu62, although it has the option to increase the price range by up to 15%.

Did you take the time to read the major management changes announced by Morgan Stanley recently? Didn't this strike you as slightly odd? Why should Stanley, a house which likes to keep itself to itself and never open its laundry basket to the public, suddenly be reshuffling the pack before even the bonus payments have been made? The major international financial press did not help the situation by reporting the changes in such a fuzzy fashion that we were probably as confused as many EuroWeek readers. Had Joe Perella been promoted or pushed upstairs into a non-job? Was John Studzinski, head of investment banking for Morgan Stanley Dean Witter Europe, dancing in the aisles after being made deputy chairman of Morgan Stanley International Inc? Was Sir David Walker, who has become rich beyond his wildest dreams after penury at the Bank of England and the Siberian saltmine of the SIB (very RIP thank heavens), being nudged quietly out to graze in forever green pastures?