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MERRILL LYNCH will next week launch the secondary sale of stock in Mettler Toledo, the Swiss manufacturer of weighing instruments. The deal is one of a long queue of Swiss deals expected to come to this market over the next six months. Last year Swiss corporates failed to take advantage of the recovering stockmarket conditions of the fourth quarter. Issuers and vendors from other continental markets such as Spain, France and the Netherlands reversed earlier decisions to postpone their share offerings and came to market during the last weeks of 1998.

THE MASS Transit Railway Corporation (MTRC) and the State Development Bank of China (SDB) are both limbering up for roadshows at the end of the month, fuelling belief that the first bond deal of the year from Greater China will emerge shortly. Both issuers are known to be keen to issue as soon as possible within the new year and bankers remain divided whether the two credits will cannibalise each other should they launch competing transactions at the same time.

SG LAUNCHED the first genuine euro denominated convertible this week with a Eu1.5bn offering for the French media and utility giant, Vivendi. The deal exploded on to the market during a traditionally quiet period for the equity capital markets, seizing the opportunities offered by the European currency union celebrations as well as the New Year's roaring stockmarkets.

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