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* Rabo Australia Ltd Guarantor: Rabobank Netherlands

CREDITANSTALT Investment Bank is to lead manage a capital increase for Austrian Airlines (AUA), which is keen to raise money to slim down its debts and fund future expansion. The group has been expected to come to the international equity capital markets for some while and investors are said to be keen to get the chance to buy into a continental airline at a low point in its industrial cycle.

BRAZIL made a spectacular return from international capital markets exile yesterday with the launch of a blow-out $2bn five year global bond -- the cash portion of a Brady bond exchange offer which could grow as large as $3bn when the tender expires today (Friday).

* Deutsche Bank Finance NV Guarantor: Deutsche Bank AG

BRAZIL made a spectacular return from international capital markets exile yesterday with the launch of a blow-out $2bn five year global bond -- the cash portion of a Brady bond exchange offer which could grow as large as $3bn when the tender expires today (Friday).

CORPORACION Andina de Fomento pounced on growing European institutional investor interest in Latin credits this week with an Eu300m five year debut. The blow-out deal, led by Merrill Lynch and Deutsche Bank, was increased from Eu200m. It was more than two times oversubscribed and priced at 175bp over the 2004 BTAN.

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THE REPUBLIC of Chile confirmed the improved outlook for Latin credits this week when its debut $500m 10 year global bond issue enjoyed a blow-out reception. Chile's deal was so in demand -- it attracted $4bn in orders -- that lead managers Chase and Merrill Lynch were able to tighten the unofficial price talk from the low 200bp region over Treasuries to 175bp to 180bp over Treasuries.

PARIBAS is arranging the second Euro-MTN programme of 1999 for a Japanese issuer, and the largest for a utility anywhere in the world. Chubu Electric Power Company is establishing a $5bn programme to facilitate its Euromarket issuance and to allow it to tap the private placement market opportunistically.

CSFB SCORED a notable coup in the competitive world of bought deals this week, fighting off stiff competition from rival firms Goldman Sachs and Warburg Dillon Read to win a mandate to sell some Sfr500m of stock in Adecco, one of the world's largest temporary employment agencies. The group was formed through the merger of two similar groups, Adia and Ecco, and has been controlled by its principal shareholders ever since. These include Claus Jacob, who last year sold a stake in the Swiss confectioner Barry Callebaut. Jacob did not sell shares in this week's trade, although he may do so at a later date.

* European Bank for Reconstruction & Development Rating: Aaa/AAA