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* Warburg Dillon Read and Cazenove have been appointed to lead manage the sale of Cantrell & Cockrane, the Irish soft drinks producer. The deal, which will involve the spin-off of the company from Allied Domecq, may still involve a trade sale, and Goldman Sachs are advising the company on the possibilities. * General Optica, the Spanish producer of spectacles, is to list in Madrid in an IPO worth around $200m in November. This will involve the sale of stock to international and local investors.

Compiled by Enrico Massi, RBC DS Global Markets, London. Tel: +44 171-865 1759

Peter Hans has joined Fuji International Finance as executive director and head of high yield. Hans joins from the former Union Bank of Switzerland, now Warburg Dillon Read. He will jointly report to Jeremy Ghose, who has been promoted to deputy managing director of Fuji International Finance, and Michael Cole, managing director and head of capital markets.

GLOBAL co-ordinator Warburg Dillon Read is to launch the international sale of shares in the Greek cellular company, Panafon, in the final quarter of 1998. The deal is timed to appear after the $10bn sale of stock in Swisscom which the firm is leading with JP Morgan.

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THE DEADLINE for banks to commit to the sub-underwriting senior lead manager level in the £2.4bn credit facility for PowerGen Finance is today (Friday). Arrangers Deutsche Bank, Goldman Sachs and HSBC are confident that the phase will be a successful one. A banker at one of the arranging banks predicts that 21 out of the 22 banks approached will come in as the sub-underwriting senior lead managers. "The deal has been extremely successful -- more so than most of us anticipated," said one London banker. "Maybe a few banks will come in early next week, but it has to go down as one of the best deals so far this year."

THE FLOW of reverse convertibles continues despite signs of new issue fatigue among investors that have absorbed a record number of these synthetic instruments in the last few months. Nine transactions were launched this week, although salesmen say that in the current market weakness there are not many stocks trading in the correct pattern to back a reverse CB.

HOPES OF financial support for Russia from the G7 enabled Russian Eurobond prices to stage a partial recovery yesterday (Thursday) after plunging investor confidence in the country's economic prospects caused Russia's Euromarket debt to slump to default-type levels.

HOPES OF financial support for Russia from the G7 enabled Russian Eurobond prices to stage a partial recovery yesterday (Thursday) after plunging investor confidence in the country's economic prospects caused Russia's Euromarket debt to slump to default-type levels.

PREFERRED Mortgages has issued its debut mortgage backed security, adding a new name to the growing market for UK sub prime mortgages. Launched by Greenwich NatWest via special purpose vehicle Preferred Residential Securities no 1 plc, the £50m bond marks another breakthrough -- Financial Security Assurance has provided a triple-A wrap, the first from a monoline insurer in the UK market for non-conforming mortgages.

* Two headline Italian securitisations have moved a little closer with the award of mandates. Paribas looks to have won the mandate to securitise as much as Lit1.5tr of non-performing assets for Banca di Roma, while Greenwich NatWest has emerged as near certain holder of a mandate for a Lit500m to Lit1bn non-performing loan security for Banca Monte dei Paschi di Siena. Neither of the winning banks would comment but the mandates are choice prizes; despite the potential pitfalls of Italian securitisations, particularly of non-performing assets, the country is widely perceived as one with substantial potential.