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THE EUROLOAN market is gearing itself up to take on one of Europe's biggest leveraged buy-outs -- the £1.3bn acquisition of AstraZeneca PLC's specialty chemicals division backed by private equity houses CinVen Group Ltd and Investcorp. Bankers have been trying to second guess the structure of the deal which is being kept under close wraps by arrangers Chase Manhattan and JP Morgan until it is launched to co-arrangers and sub-underwriters possibly today (Friday) or Monday.

THE FEDERATION of Malaysia embarks on global roadshows next Tuesday with a roughly $2bn offering that may make or break the recent recovery in Asian spreads.

DESPITE the Ascension day holiday in Europe and geopolitical upheavals, the Euromarkets remained on form this week. The markets shrugged off Yeltsin's latest demarche, China's anger over Kosovo and the resignation of US treasury secretary Robert Rubin to end the week with a positive tone. Goldman Sachs achieved a stunning debut in its newly floated form with a $1.8bn (increased from $1.5bn) 10 year global bond issued at 112bp over Treasuries. The lead declined to comment on the transaction but syndicate managers confirmed overwhelming demand for the bonds in Europe and the US.

THE FEDERATION of Malaysia embarks on global roadshows next Tuesday with a roughly $2bn offering that may make or break the recent recovery in Asian spreads.

Egypt International arrangers Chase Manhattan, Dresdner Kleinwort Benson, Paribas and WestLB will close general syndication by the end of next week on the $220m international tranche of the senior secured credit facility for the Egyptian Company for Mobile Services (ECMS). Early commitments are already in and the deal is heading for a strong close.

* Barclays Capital has arranged a Eu1.5bn Euro-MTN programme for MBNA Europe Funding. Signed last Friday, the programme will provide 30%-40% of the funding for the arm of MBNA International Bank. An inaugural issue will be roadshowed next week, but no details are available. Future issuance will mainly be plain vanilla, with two or three bonds launched per year. The programme allows for reverse enquiry.

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MEXICAN state owned bank Nacional Financiera (Nafin) yesterday launched what is the first ever Mexican peso denominated Eurobond and at three years the longest maturing fixed rate peso debt ever issued by a public entity. The 144a 'Europeso' issue is listed in London, launched off the bank's Euro-MTN programme, but was understood to have been mostly sold to US investors.

BANKERS in the German and London equity markets are warning that the Neuer Markt could be heading towards some sort of correction. They say that the overall level of investor nervousness -- over factors such as global stockmarket valuations and the overheated hi-tech sector -- signals a downward move. Recent deals such as the sale of stock in MWG and SVC have been many times oversubscribed, but have either struggled to maintain their issue price or have traded down in the immediate aftermarket.

ROADSHOWS started this week for the jumbo bond issue for Tecnost -- part of Olivetti's hostile bid for Telecom Italia and potentially the largest ever corporate bond issue. Olivetti is offering Telecom Italia shareholders up to Eu15.23bn in five year FRNs paying Euribor plus 185bp as part payment for their shares in Telecom Italia.

* Dresdner Bank

Barclays Capital has appointed Peter Hancock, managing director, as European head of the oil and gas group in the investment banking division. He reports to Peter Luthy who is global head of investment banking. Peter Hancock has worked at Barclays for over 20 years, and will become the senior relationship banker for the oil and gas corporate client base in Europe, the Middle East and Africa. He will work closely with Rich Williams, head of oil and gas for the Americas.