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INVESTMENT bankers are bombarding the Brazilian government with bond proposals, including deals similar to Mexico's $1.5bn 1995 floating rate Cetes note, as pressure increases on the republic to crack open the international financing market for the country's cash-starved corporates. Brazil wants to raise $16bn to $30bn this year and is keen to hear any proposal on how to go about it. "There is no way they can do all that, but they need to come back to the market as soon as they can," said one banker in New York.

EUROPEAN corporates this week demonstrated the win/win opportunities available in the euro credit market by launching aggressively priced transactions that nevertheless met strong demand from both retail and institutional investors. Automobile manufacturer DaimlerChrysler launched a Eu600m bond, its largest offering to date; holding company CIR increased its transaction to Eu500m on the back of strong demand; and Italy's Finmeccanica issued Eu300m of floating rate notes. Next week, Carrefour will raise up to Eu1bn of 10 year funds via Barclays and BNP at around 42bp over OATs.

FOR THE second time in nine months, BT Alex Brown is arranging leveraged debt facilities backing the purchase of William Hill, the bookmaker. After Nomura International's abandonment of the planned flotation of the UK turf accountant last week, which Warburg Dillon Read was running, Cinven and CVC Capital Partners stepped in and bought the company for £825m in a hastily arranged deal, with the backing of a BT Alex Brown led senior debt facility.

CORPORACIÓN Andina de Fomento (CAF), the Caracas-based supranational, will today (Friday) launch its first international issue this year with a $200m five year Yankee bond led by Credit Suisse First Boston. The deal is expected to be priced at 237.5bp over Treasuries, slightly above the 235bp trading level of it its bonds maturing in 2005. Other outstanding CAF issues are its 2003 bonds at 230bp, and its 2007s at 250bp.

* GE Capital Canada Funding Co Guarantor: General Electric Capital Corp

COLT TELECOM, the UK high growth alternative telephony provider, is taking advantage of the telecom stock fever to raise £500m ($800m) in straight equity and convertible debt. The group is one of the most financially innovative groups in its industry and last year raised over £650m through highly successful financings in a variety of markets.

THE REPUBLIC of Croatia launched its largest ever international bond this week, issuing a debut offering in the single European currency. Premarketed at a Eu250m issue size and a five to seven year maturity range, the landmark transaction for the Baa3/BBB- rated sovereign emerged for Eu300m at the longer maturity following a well attended series of European roadshows last week.

COMPETITION in the UK power finance retail market heated up last Friday with the launch of the £499.5m financing for the second UK independent power project (IPP) of the year Dam Head Creek sponsored by Entergy Development Corporation -- by arranger Warburg Dillon Read. A bank presentation will be held today (Friday) at the arranger's London offices with around 40 to 50 banks expected to attend.

LEAD MANAGER Rabo Securities has launched the IPO for Detron Group NV, the largest independent telecom services business in the Netherlands. The flotation will involve the sale of 4,532,840 ordinary shares. Institutional investors have been given an indicated price range of between Eu13 and Eu15.

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