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India SBI International Merchant Banking Group is arranging a $19m bilateral loan for Gas Authority of India. The three and a half year bullet deal pays a fixed all-in yield of 185bp for an average life of four years and nine months.

FOLLOWING months of uncertainty in the emerging stockmarkets of central Europe, last month's successful $850m flotation of the Polish telecoms operator TPSA has given issuers and bankers encouragement that investors are still willing to look at deals even in fragile markets. Earnings concerns and a poor investor response to some of the recently announced mega-mergers has inflicted heavy losses on some of these markets over the last week, after recovering bravely throughout most of November.

THE EUROPEAN convertible market witnessed an unseasonal flurry of activity this week with successful deals from a wide variety of issuers such as Mediobanca, Elan and Usinor. "Dedicated convertible funds have been on the lookout for equity-linked debt instruments to capitalise on the steep recovery over the last few weeks," said one convertibles specialist.

* Public Power Corp Rating: BBB

Brazil The $100m facility arranged by West LB (New York) for BEAL Brazil was signed on November 25.

LEBANON's Bank of Beirut launched the maiden transaction off its newly established $150m Euro-CD programme this week. The debt issuance shelf was arranged by Middle East Capital Group which ran the books on the $30m three year transaction -- which marked the first time that a Middle Eastern investment bank has been appointed sole lead manager on a Eurobond from the region.

CO-ORDINATING arrangers of the $100m five year revolving credit for Magyar Olaj-es Gazipari (MOL) -- Bayerische Landesbank, Citibank, Deutsche and Sumitomo -- report that appetite in the club syndication has been strong and that more than $100m will be raised. However, speculation that the deal's pricing was determined by MOL's secondary market price continues to spread through the market.

INVESTORS in Germany's Neuer Markt are still piling into new issues, despite this week's consolidation on world stockmarkets. Although the main Frankfurt market was caught up in this week's downturn, Neuer Markt stocks were unaffected and the primary market welcomed two new entrants.

* Deutsche Bank Australia Ltd Guarantor: Deutsche Bank AG

JAPANESE investment bank Nomura announced this week that it would seek a stockmarket listing for its Unique Pub Company in the next three years. The newly created firm will be a vehicle for most of its pubs -- which have been acquired through the purchases of Inntrepreneur, Spring Inns and Phoenix Inns. The exceptions will be those that are in dispute with their tenants over leasing arrangements. The news highlights a move by many private equity specialists toward spinning off their assets on the stockmarkets.

MEXICAN oil group Pemex will launch its jumbo securitisation today (Friday) and looks set to increase the landmark deal from $1.5bn to $1.7bn after receiving strong demand from all investor groups in the US and Europe.