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Hungary Matav, the Hungarian telecoms operator, has appointed Schroder Salomon Smith Barney as its ratings adviser for a bond issue likely to be launched early next year.

* Cregem Finance NV

Brazil stole the limelight in the international equity markets yesterday (Thursday) with the $4bn sale of 180m shares in its oil concern Petroleo Brasileiro SA (Petrobras) - the largest global share offering from Latin America. International demand for the deal was so strong that over 60% of the offering was sold to international investors, and the ADRs, priced at $24, surged more than 12% in afternoon trading on the NYSE to $27.3125. Petrobras was the most actively traded issue of the day, with more than 27.17m shares traded.

SB Leasing Company has dropped New Japan Securities Europe as a dealer off its $4 billion Euro-MTN programme. The following have been added as dealers: Zenshinren International, BNP Paribas and Credit Suisse First Boston. The programme has $1.30 billion outstanding off 136 issues and was arranged in 1997 by Daiwa SBCM Europe.

Peugeot Finance International and Banque PSA Finance have increased the ceiling off their $2.5 billion debt issuance programme to $4 billion. Greenwich NatWest has been dropped as a dealer, while Deutsche Bank has been added. The programme was signed in 1994 and is arranged by JP Morgan. It has a total outstanding of $2.85 billion off 63 trades.

Denmark

Market report:

* Bank of Ireland

* Merrill Lynch & Co Inc

Telefonica Europe has increased and redenominated its $2 billion debt instrument to euro8 billion ($7.2 billion). The programme was arranged in 1996 and has $1.2 billion outstanding off four trades.

* Bear Stearns Companies Inc

DEUTSCHE Telekom has postponed the IPO of its mobile unit T-Mobile because of investor concerns over which parts of US acquisition target VoiceStream would be incorporated into T-Mobile. The issue, which was to include 10% of T-Mobile, was expected to raise about Eu8bn this autumn. The potential acquisition, Telekom said in a statement, "makes the task of preparing the necessary listing prospectuses considerably more complex". T-Mobile was scheduled to list in both New York and Frankfurt.