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Hong Kong Container terminal operator Cosco-HIT Terminals (Hong Kong), a joint venture between Cosco Pacific and Hong Kong International Terminals, should announce the arranger banks for a refinancing facility today (Friday). The borrower is seeking approximately HK$1.8bn.

n Deutsche Bank will combine and manage centrally its European high yield and emerging market corporate debt capital markets groups in London. Managing directors Jeffrey Lubin and Youssef Khlat will become co-heads of the combined business. They will continue to report to Richard Byrne, global head of high yield capital markets. Additionally, Stuart Young, director, will manage the emerging market sovereign syndicate. He will report to Grant Kvalheim, global head of debt capital markets. Previously the group was part of a combined emerging market syndicate operation overseen by Lubin.

n Venezuela plans to make its first appearance of 1999 in the international bond markets in coming weeks with a three year offering of between Eu150m and Eu200m, led by ABN Amro. ABN Amro would not comment, but yesterday (Thursday) Venezuela's congress approved the issue of a Eurobond, led by the bank, to fill a specific $198m funding requirement.

INTERNATIONAL equity investors are enjoying a last splurge on technology stocks as various young companies seek international listings for their shares before year end. This week saw several groups benefit from keen investor appetite for this sector. Companies included Miracle of Switzerland, Aixtron of Germany, Israel's Orad Hi-Tech Systems, Italy's Finmatica and AISSoftware@re, and Open TV (registered in the British Virgin Islands).

Euroweek understands that Jean-Louis Duguit has been appointed global head of syndicated finance and corporate acquisitions at BNP Paribas. However, the bank has yet to appoint the Europe, Middle East and Africa regional head of syndicated finance. Julian Van Kan heads up BNP's syndicated loans team in London and Paris, while Domenico Lellis heads up Paribas's loans team, also based in London and Paris.

THE POLISH government and Dresdner Kleinwort Benson will this weekend execute the privatisation sale of stock in Polski Koncern Naftowy (PKN), the Polish integrated oil company. The deal has been carefully marketed amid growing signs of investor worry over central European markets. Bankers say that the quality of the company has overcome any doubts about the region.

n DePfa Rating: Aa3/AA (Moody's/Fitch IBCA)

GLOBAL co-ordinators Merrill Lynch, Banco Essi and Banco Mello Investimento have completed the successful flotation of PT Multi-Media, a subsidiary of the privatised national telecommunications operator, Portugal Telecom. Interest in the deal was particularly strong, with international and local investors viewing it as one of the year's last chances at a growth story from a hot sector. Even in pre-marketing the offer was well subscribed, and by the time the books closed the institutional sale was 50 times covered, with the retail tranche reporting an impressive 70 times oversubscription.

Amount: Eu150m (fungible with Eu100m issue launched 05/02/99) Öffentlicher Pfandbrief series 970 Maturity: February 9, 2001

Norway The $100m five year term loan for Sparebanken Rogaland, now known as Sparebank 1 SR-Bank, has closed and was signed on November 11, with Commerzbank as the arranger.

n WestLB Finance Netherlands BV Rating: Aa1/AAA