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* Paul Richards has been named head of global debt syndicate of Merrill Lynch and will oversee the bank's debt syndicate businesses in Canada, the US, Japan, Australia, as well as Europe. Richards, who was previously head of European debt syndicate, will report locally to Harry Langfield and globally to Jimmy Quigley.

* City of Gothenburg Rating: A1/AA

Three weeks after BNP Paribas' European securitisation group resigned to move to Credit Suisse First Boston, the tussle between the two banks has ended and the new composition of the two groups has become clear. BNP Paribas mounted a rapid counterattack after nearly all its European securitisation staff resigned, putting each defector under pressure to stay. After a sustained struggle, the bank succeeded in retaining key members of the team that had structured Paribas' Italian deals, one of the most significant parts of its business.

* World Bank Rating: Aaa/AAA/AAA

THE Republic of Argentina provided a ray of hope for emerging market debt issuance this week with a Eu750m five year bond issue lead managed by Chase Manhattan and JP Morgan. On the back of strong retail investor demand - mainly from Italy, which has proved itself consistently hungry for Latin America's most frequent borrower - the deal just about made it out of the door, said bankers.

China Arrangers and underwriters Bayerische Hypo-und Vereinsbank, Commonwealth Bank of Australia, NM Rothschild & Sons (Australia) and SG have launched a $143.5m term loan facility for Sino Mining Alumina.

Asia Today has launched a $50m facility to a small number of potential arrangers. The debt, which has a $25m greenshoe option, is lead arranged by ANZ Investment Bank. The facility is the first media-based leveraged financing from India, and as such is attracting strong interest among banks active in the region.

Asia * Interstar Millennium Series 2000-2 Trust

Australia Invited banks have until the end of the month to commit to the A$400m dual tranche refinancing for television broadcaster Ten Group. Toronto Dominion Australia is the arranger with Westpac Banking Corp the co-arranger.

A SPATE of large equity issues will emerge from Australia in the next three months, culminating in the jumbo Vodafone Pacific flotation in late June and the NRMA insurance division IPO in July. US telecoms firm RSL Communications is braving the volatile global stock market conditions to sell its entire stake in ComVergent Telecommunications, while the takeover of Colonial Group by Commonwealth Bank of Australia should spawn a global placement of up to A$1bn of CBA shares.

Market report: Compiled by Glenn Blackley,