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BANKERS at lead managers Credit Suisse First Boston, Goldman Sachs and Lehman Brothers breathed a sigh of relief this week as PTT Exploration and Production completed its Bt9.75bn ($231m) share offer despite the worst conditions yet seen during 10 months of turmoil in Asia. Bankers connected to the deal were euphoric, if tired, after a marathon roadshow and plenty of late night encouragement to persuade investors to step up to the plate.

Croatia Arrangers SG and UBS are preparing to close syndication of the $70m dual tranche facility for Pliva dd which is already oversubscribed. A couple of slower banks are to join before the deal is fully closed. The credit, priced at 80bp over Libor, is split between a $50m three year extendible term loan and a $20m three year tranche. The $50m tranche refinances a syndicated bridge loan signed in December 1997. The smaller tranche will fund an employee share ownership plan.

EMERGING market borrowers look set to take centre stage in the fast expanding euro denominated bond sector over the next few weeks, with central and eastern European sovereigns in particular proving keen to establish their credentials in the future single European currency. Roadshows for the first euro denominated offering from the Baltic states began this week with joint leads Dresdner Kleinwort Benson and Credit Suisse First Boston hosting investor presentations in Europe for a planned Eu200m five to seven year for the Republic of Lithuania.

* BCH International Finance Ltd Guarantor: Banco Central Hispanoamericano SA

Argentina * Republic of Argentina

BOOKRUNNER Credit Suisse First Boston has launched the sale of stock in Esat Telecom, the Irish high-growth telecom operator. The company, which went public three years ago, has embarked on the sale of primary and secondary stock which will raise around $45m. Some 6m ordinary shares will be sold, comprising 4.7m existing shares and 1.3m new shares. Proceeds will be used to fund the expansion of the group's fixed-line telephony activities to take advantage of the first steps taken by the Dublin parliament to liberalise the industry and allow companies to compete with Telecom Eireann.

* BBV International Finance Ltd (Grand Cayman) Guarantor: Banco Bilbao Vizcaya SA

THE PARIS stockmarket hit another high this week as investors waited eagerly for two of the largest corporate share sales in the market's history -- the flotation Alstom, the Anglo-French engineering group, and Rhodia, the spin-off of Rhône-Poulenc's specialty chemicals business. Heavy blue chip buying by foreign and local investors lifted the CAC40 to 4211.54. "Investors are looking at many of the large continental deals through rose-tinted spectacles," conceded one banker this week.

LEAD MANAGERS Goldman Sachs and Morgan Stanley Dean Witter defied volatile market conditions in New York and London this week to raise £1bn for BCE, the Canadian telecoms group, through the sale of its 14.25% stake in Cable & Wireless Communications (CWC), the UK telecoms concern. After London market dropped 140 points and New York fell 170 points yesterday (Thursday), salesmen were predicting further weakness on both sides of the Atlantic because of worries about Asia as the yen slumped against the US dollar this week.

OUR STORY that Barclays Capital had stolen a march and legged over the opposition by hosting the best and most imaginative party at the Euromoney Global Borrowers and Investors Forum has caused a public outcry. Competitors are blubbing. Questions have been raised in the house. There are even suggestions that Viscount Bridport, a managing partner of Bridport & Cie in Geneva, might make a rare appearance and dazzle the House of Lords with a motion on behalf of the losers that, "we wuz robbed and where's our compensation?" Quite frankly, we can't see what the fuss is all about. If the likes of Merrill Lynch, Morgan Stanley and Deutsche (Morgan Grenfell RIP) can't get their party skittles into line are we supposed to play nursery nanny and come running with a diaper in one hand and a suppository in the other?

* Baden-Württemberg L-Finance NV Guarantor: L-Bank

India Sumitomo Bank has been mandated as financial adviser for the 100MW Atria Power project in the state of Karnataka. Sumitomo will advise the sponsor, Atria Group, on raising around $20m in equity and $70m in debt.