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* ABB International Finance NV Keepwell agreement: from Asea Brown Boveri Ltd

Banca di Roma will launch its second CBO next week. Arranged by Donaldson, Lufkin and Jenrette and Italian investment bank Mittel Capital Markets, the transaction will be lead managed by Banca di Roma and DLJ (books). Caesar Finance 2000 will be backed by 49 corporate bonds, mostly from Italian issuers, with an average rating of triple-B. The three month Euribor based deal amortises on a sequential passthrough basis.

* NIB Capital Bank, the former De Nationale Investeringsbank, will price its largest mortgage securitisation today (Friday). The Eu800m deal, lead managed by BNP Paribas, Merrill Lynch and NIB Capital Markets, parcels Dutch mortgages originated by four subsidiaries of NIB and by Zwitserleven, the Dutch branch of Swiss Life. The loans will be serviced by independent servicer Stater BV.

THE UK Treasury, which oversees the private finance initiative (PFI), used the programme itself two weeks ago, as UBS Warburg placed £127.79m of bonds to finance the renovation of the ministry's headquarters in central London. The transaction was launched without much publicity as the Treasury was keen to control press coverage itself, but details of the deal have now emerged.

Greenwich NatWest last Friday launched a £65.95m index linked securitisation to finance the construction of a new hospital in Neath, South Wales. The borrower, Baglan Moor Healthcare Ltd, has a contract from Brow Morgannwg NHS Trust to build a new 270 bed hospital,the Neath/Port Talbot Local General Hospital. Baglan Moor will then provide all non-clinical services to the hospital until the expiry of the contract in 2029.

UBS priced its latest leveraged, synthetic CLO last Friday, transferring credit risk on $1.2bn of assets in its principal finance book. North Street Referenced Linked Notes 2000-1 Ltd's $184m of notes are believed to have sold well at spreads comparable with high yield CBOs.

Convertible bonds (CBs) can be awkward beasts. In this Learning Curve we will wrestle with a question that has been controversial, namely--what discount rate should be used in valuing CBs?

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.

CREDIT Suisse First Boston won the sought after mandate this week for a bond issue from Korea Exchange Bank (KEB), the latest in the line of subordinated deals for Korean banks. Korea Exchange Bank plans a $200m issue in early June, its first major fixed income transaction since the 1997 Asian crisis and its first financing attempt since it had to abandon an equity offering in November 1999 that was due to be led by Morgan Stanley Dean Witter.

TWELVE bank teams have lodged bids for lead manager roles on a $150m 10-year bond issue from Power Finance Corp of India (PFCI). As one of few deals likely to emerge from India this year, and as a semi-sovereign entity, bidding was fierce and pricing is expected to be tight.

SINGAPORE this week received backing from the international fund management community and reconfirmed its position as a secure investment haven within Asia. Chartered Semiconductor secured at least $878m from the sale of new and secondary shares in a global share placement completed in less than two days. Singapore Airlines has obtained at least S$500m from a placement of shares in Singapore Airport Services (SATs) and SIA Engineering Company (SIAEC), both of which are soon to be listed on the Singapore Stock Exchange.