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DESPITE volatile conditions throughout European and US stockmarkets this week, a number of hugely successful convertibles were placed with investors, especially those in the fixed income and specialist CB sectors. CSFB continued its run of good fortune with the sale of one of the largest exchangeable bonds to be denominated in Dutch guilders.

US CORPORATE TMCC signalled a change in its funding strategy this week by returning to the Deutschmark sector for the first time since February 1997 with a DM750m seven year issue targeted at European institutional investors. The deal marks a move away from the arbitrage driven retail targeted deals that have been a feature of the borrower's previous forays into core European currencies.

* Amoco Co Guarantor: Amoco Corp

THE US MARKETS succumbed to renewed worries over Asia this week, with fewer new issues completed in the face of unsettled market conditions. Although investors remain generally bullish, bankers say they are becoming selective and increasingly concerned about overly high market valuations. Some argue that investor caution is good for the market in the long run, leading to a more realistic assessment of companies.

France SG has attracted eight co-arrangers for the Ffr3.5bn two tranche facility for Usinor Sacilor SA. They are: ASLK-CGER Bank, Banco Bilbao Vizcaya, Banco Central-Hispanoamericano, CIC Group, Crédit Agricole Indosuez, Credito Italiano, Natexis Banque-BFCE, Caisse Centrale des Banques Populaires and Paribas.

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BancBoston Securities, Banco Frances de Rio de la Plata, BancAmerica Robertson Stephens and Dresdner Bank Luxembourg have targeted a select group of relationship banks for their $160m facility for energy utility, Transener SA. The facility is split between a $60m five year trade loan and a $100m four year term loan for working capital purposes.

KOÇ HOLDING, the Turkish conglomerate, this week filed a registration statement with the Turkish stockmarket authorities for its international share offering due for launch in June via Goldman Sachs It also disclosed details of the structure of the offering, declaring that it will take the form of a capital increase of around 7.8% of the firm's nominal share capital (1,249,450,000 shares) as well as the sale of 138,550,000 shares by the Koç family. The family will also grant underwriters an over-allotment option of around 15% of the offering to cover the greenshoe.

* Dresdner Bank Luxembourg SA Rating: Aa3

THE MALAYSIAN government will appoint a financial adviser for its Asset Management Corporation (AMC) this weekend, signalling the start of a bad loan work-out programme likely to be financed by at least $4bn of international bond issues this year alone.

THE MALAYSIAN government will appoint a financial adviser for its Asset Management Corporation (AMC) this weekend, signalling the start of a bad loan work-out programme likely to be financed by at least $4bn of international bond issues this year alone.