GLOBALCAPITAL INTERNATIONAL LIMITED, a company

incorporated in England and Wales (company number 15236213),

having its registered office at 4 Bouverie Street, London, UK, EC4Y 8AX

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  • * L-Bank Rating: Aaa/AAA
  • GLOBAL co-ordinators Warburg Dillon Read and JP Morgan are on course to complete the sale of stock in Swisscom next weekend. Given the appalling market conditions, the leads' success in pulling together an extremely strong book of orders has drawn warm applause from the market. The Swisscom IPO is likely to be the first in a long queue of telecom deals scheduled for the rest of the year - including NTT DoCoMo, Mobistar, TPSA and OTE. But strategists believe there is still keen demand for the sector.
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  • * Statoil Rating: Aa2/AA+
  • * KfW International Finance Inc Guarantor: Kreditanstalt für Wiederaufbau
  • A £140M PLACING for Telewest Communications, the UK cable television group, has been postponed after lead manager Credit Suisse First Boston was unable to reach an acceptable price for investors and the vendor, French utility group Vivendi. Vivendi is reported to have approached several investment banks with a view to completing the placement of a chunk of Telewest stock. CSFB won the deal on the basis that the bank had been discussing the placement with the vendor for some time.
  • UNITED BANK Of Switzerland has announced that it expects to record a third quarter loss of between Sfr500m and Sfr1bn, largely as a result of the emerging market crisis and the ensuing volatility in global stock markets. Its involvement with troubled hedge fund Long Term Capital Management also features strongly in the prognosis.
  • Citibank has the mandate to arrange an $800m facility for Arthur Andersen. The loan will be offered to US institutions and a select number of European banks. Bankers say the borrower will use the loan to defend its possession of Andersen Consulting.
  • TALKS ON the restructuring of $40bn of GKO/OFZ Russian government bonds remained deadlocked this week amid signs that western bankers are losing patience with the Russian authorities. Although the deadline for the proposed debt exchange has been extended from today (Friday) until October 2, the war of words between the Russian government and western bankers has escalated alarmingly.