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WHAT DID you think when you read about Deutsche Bank's marriage proposal to Bankers Trust? Was this to be a shotgun wedding? Was BT in the pudding club? Had sitting in a hot bath and drinking a gallon of Gordon's Gin or Beefeaters failed to produce a result? The proposed alliance, already christened 'Trust Deutsche', looks as disastrous to us as Bonkersbank-Citigroup. Did Rolf Breuer and Joe 'Knackersyard' Ackermann check to see whether anyone else had proposed to BT, let alone left their slippers under the bed?

DEUTSCHE BANK'S $9.7bn takeover of BT Alex Brown looks set to be given the go-ahead this weekend, with staff completely in the dark as to the shape of the new bank. The deal, which will be the largest takeover of a US bank by a foreign competitor, is expected to be finalised in board meetings on November 29. Job losses are expected in both companies, particularly among Deutsche's US staff. Also at some risk are the 6,200 UK staff of Deutsche, and the 3,500 people employed by Bankers Trust in the UK.

Domestic issuance: * Banca Popolare di Novara

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A STRONG Middle Eastern investor bid for Lebanese risk, lower funding costs as a result of last week's interest rate cut in the US and improved sentiment in the emerging markets have prompted Lebanon's Bank of Beirut and Banque Libanaise pour le Commerce to seek access to the Eurodollar market. Bank of Beirut already has a $50m 8.875% June 2000 transaction from May 1997, this week trading at a spread of 282bp over US Treasuries. The bank should supplement that issue with a $30m three year issue early next week.

* Argenta Nederland NV Guarantor: Argenta Banque d'Epargne SA, Argenta Société d'Investissements SA

ABN AMRO Rothschild has concluded the sale of stock in Magnus Holding, the systems management and industrial advisory group. The keen interest in the IPO from local and institutional investors sends encouraging signals to other Dutch corporates waiting to raise funds. The deal involved the sale of primary and secondary shares representing around 16% of the group's equity capital. Some 5,723,077 shares were placed at Dfl 17 after the lead manager indicated a price range of between Dfl 13 and Dfl 17.

GENERAL syndication of the $300m revolving credit for Norske Skogindustrier continues to impress, with news of a massive oversubscription. Euroweek reported last issue the borrower was considering increasing the loan to around $400m and arrangers Banque Nationale de Paris, Deutsche Bank and Den norske Bank confirm that the borrower is looking at a final figure as high as $450m. Norske Skogindustrier's traditional relationship banks have played an important role in the oversubscription. However, the borrower has been able to attract some new names to its syndicate.

Israel Sumitomo Bank has signed the $42.5m dual currency revolving credit for Israel Chemicals Ltd. Co-arrangers are Israel Discount Bank of New York, Bayerische Landesbank and United Mizrahi Bank. They were offered 30bp for commitments of $7.5m each.