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The Asian Development Bank (ADB) is to return to the international bond markets over the coming two weeks with a new benchmark transaction, following the completion of global roadshows which were wrapped up in Europe this week. Bankers said that although the supranational is looking at a number of different options, it favours a jumbo global yen offering swapped back into dollars. Said one banker: "A decision is only likely to be taken after treasury officials return to Manila early next week.

n Speculation is mounting that the People's Republic of China is preparing to re-enter the international debt markets within the next two months. Market players said that government officials have spent the past two weeks talking with banks about printing a new deal ahead of the summer.

Roadshows begin on Monday for the $850m sale of Posco ADRs, while the Korea dealflow continues with details emerging of the syndicate for the forthcoming $1bn recapitalisation of Hanvit Bank. Last week the government filed with the SEC for the sale of a 7% stake or 27m Posco ADRs. Pricing for the issue will take place on the July 14 following an accelerated bookbuild led by Salomon Smith Barney and Merrill Lynch.

The Sri Lankan government is to make a final decision within the next few days over the choice of ratings adviser to its inaugural international bond offering. Having received 13 proposals, government officials have decided not to call for full presentations because the country is keen to get ratings advisory work underway as quickly as possible.

The institutional tranche of Golden Agri Resources' $400m IPO closed comfortably subscribed this week despite a slowing of interest in the final days before pricing. The 270m share ING Barings and Merrill Lynch-led deal priced at the low end of the $0.61 to $0.75 range at $0.638.

The Yen Euro-convertible and Japanese Swiss Franc convertible market came back to life this week with deals from Acom, Tomy, Nippon Mining and I-Net. The unusual structure of Acom's ¥30bn convertible aroused interest from market observers. Priced at 102.5, the 2002 bond has a zero coupon structure. Warburg Dillon Read is lead manager for the sale.

Roadshows for an inaugural euro-denominated bond by the Korea Electric Power Corporation (Kepco) will begin in Zurich next Tuesday. The company has finally been given the go-ahead by the Ministry of Finance and the Economy (MoFE), but only on condition that proceeds must not be immediately swapped out of euros.

The Electricity Generating Authority of Thailand (EGAT) has decided to turn back to the domestic bond markets to fulfil its financing needs for the financial year ended September 30. In a decision taken late last week, the government-owned group formally abandoned plans to seek a World Bank guarantee for a second $300m offering. In its place the group is planning to raise the baht equivalent of about $140m to $150m with a possible 10 year maturity. Thai experts commented that the group, having raised about Bt10bn ($277m) annually over the past two years, should be able to push out its domestic maturity profile, although it has not completed a domestic long term financing for many years.

China A number of large share sales from China are lining up including those for Unicom, China National Petroleum Corporation (CNPC) and China Offshore Oil Corporation (CNOOC) due for launch in the third and fourth quarters.

China.com's $63m IPO is off to a positive start with investors betting the company's three internet portals will benefit from a coming boom in internet use in Greater China. Lead manager Lehman Brothers expects to close the 4.247m share deal on July 12 although some observers believe that the issue is already covered. Bear Stearns is co-lead manager and the issue has a 15% greenshoe. Detractors have noted that the company's three portals - China.com, Hongkong.com and Taiwan.com - have few hits to date, the preferred measurement of internet success. However, the value of the company's registered names alone has been enough to enthuse investors.

Ghana Banks have until July 15 to submit bids for the mandate to arrange this year's pre-export financing for the Ghana Cocoa Board (Cocobod).

Alpha Credit Bank, Greece's leading private sector bank, will shortly inaugurate its new Euro-MTN programme with a subordinated bond, probably for between $150m and $200m. Programme arranger Lehman will lead the bond alongside CSFB.