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* Deutsche Bank -- DB Ireland plc Guarantor: Deutsche Bank AG

Italian borrowing in the international capital markets is growing rapidly in the run-up to European monetary union. A wider range of corporates is starting to use the bond markets, diversifying away from bank financing and providing new investment opportunities for the increasingly institutional investor base in the domestic market. New Italian bank issuers are starting to emerge in the MTN and bond market, while local authorities are becoming increasingly frequent and adventurous borrowers in international markets.

De Nationale Investeringsbank is expanding its London project finance unit with the hiring of Chris Sutcliffe and Mike Bryan as managers. Sutcliffe joins from Industrial Bank of Japan and Bryan joins from Dresdner Kleinwort Benson. Both will report to Darren Kyte, head of the London team. Among DNIB's UK mandates are the Hereford and Wellhouse hospital projects.

* Abbey National Treasury Services plc Guarantor: Abbey National plc

GLOBAL co-ordinators Goldman Sachs, ABN Amro Rothschild and BPI on Wednesday launched the sale of stock in EdP, the Portuguese national electricity utility, a deal that would raise Esc518.4bn ($2.85bn) at this week's market price of Esc4,800. The government is divesting around 18% of the company's equity capital through the sale of 108m shares according to the preliminary prospectus released this week.

* Banco Santander de Negocios Portugal SA Amount: Esc5bn

THE RUSSIAN authorities this week increased their Eurobond funding target for 1998 to $6bn -- almost double the $3.5bn ceiling envisaged at the start of this year -- despite the country suffering a twin blow to its credit rating. Last Friday, Fitch IBCA cut its BB+ sovereign ceiling for Russia to BB and placed it on RatingAlert negative. On Tuesday, Standard & Poor's downgraded its Russia rating from BB- to B+ with a stable outlook.

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PROGRESS of the $1.5bn facility for Lukoil has been delayed again due to proposed changes in the Russian tax regime. Of the changes, the most drastic one blocks energy companies such as Lukoil from exporting until they have sorted out their tax arrears. It is another blow to the arrangers of the Lukoil facility -- ABN Amro, Citibank, Credit Suisse First Boston, Deutsche Bank and SG. They were mandated in early February but have been dogged by Russia's poor economic conditions.

SBC WARBURG Dillon Read this week launched the offering of shares in Helsinki Telephone, a deal that is expected to raise around $300m and will comprise the sale of primary and secondary shares. Although the deal is still at an early stage, the interest shown by investors in meeting the company's management has been extremely encouraging. The only obstacle on the horizon appears to be the massive run up in the company's share price, which was at FIM280 this week compared to FIM180 at the start of the pre-marketing period.

EUROPE'S GROWING asset backed market took another leap forward this week when Banca del Salento launched the first public securitisation of Italian mortgages. Lehman Brothers and Paribas ran the books jointly for the Lit365bn offering, which is the fruit of nearly a year's structuring work.

EUROPE'S GROWING asset backed market took another leap forward this week when Banca del Salento launched the first public securitisation of Italian mortgages. Lehman Brothers and Paribas ran the books jointly for the Lit365bn offering, which is the fruit of nearly a year's structuring work. Banca del Salento is a medium sized private bank based in the Apulia region, and one of the most profitable in southern Italy.