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* Bank of Western Australia Ltd Rating: A1/A

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Belgium Dresdner Kleinwort Benson and JP Morgan have been mandated to arrange the project financing for the KPN-Orange Belgium NV mobile telecoms project.

WORLDCOM, the US telecoms operator, launched the largest corporate bond financing package in history this week when it raised $6.1bn towards its $37bn acquisition of MCI.

WORLDCOM, the US telecoms operator, launched the largest corporate bond financing package in history this week when it raised $6.1bn towards its $37bn acquisition of MCI. Some bankers had feared that an unpredictable market would find it hard to absorb such a volume of triple-B rated paper, but their concerns proved unfounded for what one banker described as a "mighty transaction".

Chile Arrangers Chase Securities Inc, Argentaria Banco de Negocios SA and Dresdner Bank Luxembourg SA have completed syndication of the $500m five year term loan for Endesa Chile Overseas Co with an oversubscription. Endesa has opted to increase the facility to $550m.

Egypt The Barclays Capital arranged $200m bridge financing for Misrfone is to be taken out by a domestic bank group led by Banque du Caire and Banque Misr.

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LEAD managers Deutsche Bank and BBL are gearing up to launch the flotation of stock in the Belgian telecom group Mobistar. The deal is likely to reach the markets at the end of the next quarter or early in the final months of 1998. It will raise between $250m and $400m and will represent the largest new equity issue to emerge from the Brussels market for some years.

* The Polish government has announced its intention to sell 55% of Grupa Pekao to a strategic investor, rather than a 35% stake as originally planned. According to sources at the Polish finance ministry the stake will be sold in the first half of next year, although the news was not enough to support the group's ailing share price which lost 2.4% to Z61 this week.

LATE last week Nikko Europe sucessfully completed the $42m sale of shares in Nireus Chios Aquaculture in what will be arguably the last emerging market deal to be priced until after the summer break. Although the group is the largest Mediterranean producer of fish and has a well known brand name, analysts were surprised by the strength of demand generated by the sale. The deal was launched and priced during a week when other larger, more liquid deals from more developed markets foundered, with some postponed. But Nireus slipped through an open window, emerging just before investors exited the markets for the summer.