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THE FIRST test of US investor demand for Latin corporate issues will take place in the week ahead when two Mexican corporates tap the 144a market. Newly privatised Mexican satellite company Satmex has mandated DLJ and Lehman to lead a $295m seven year debut in the 144a market, while CSFB is sole lead on a $175m seven non-call four year 144a debut by Mexico's second largest sugar producer, Grupo Azucarero Mexico (GAM). Both are on roadshow and plan to price late in the week ahead.

Finland Bank of Tokyo-Mitsubishi, Chase Manhattan, Commerzbank and Merita have won the mandate to arrange a DM300m seven year multicurrency revolving credit for Rautaruukki Oy.

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* Bank Nederlandse Gemeenten Rating: Aaa/AAA

* European Investment Bank Rating: Aaa/AAA

* KfW International Finance Inc Guarantor: Kreditanstalt für Wiederaufbau

* Deutsche Bank Finance NV Guarantor: Deutsche Bank AG

* Halifax plc Rating: Aa1/AA

SALOMON SMITH Barney has won the prestigious mandate to be global co-ordinator for the sale of shares in Türkiye Is Bankasi (Is Bank), the largest Turkish bank. The transaction, through which the government will sell its entire 12.3% stake, will raise between $600m and $800m -- making it easily the largest to be completed in the Istanbul market.

UBS AND ING Barings have won the prized mandate to lead the $1.6bn sale of stock in Hagermeyer, the Dutch listed group. The deal, representing 40% of the company's equity, will be launched next month for completion in March. The shares are being sold by First Pacific Corp, which is divesting its entire stake in Hagermeyer as part of a disposal programme to shore up capital. The 40m ordinary shares will be sold through a global offering, which may also involve a buy-back by the company and a convertible preference share issue.

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UBS as lead arranger, underwriter, bookrunner and facility agent, has launched general syndication of £118m of debt which will support the LBO of Ilford Imaging Limited by Doughty Hanson. Bank of Scotland has joined as co-arranger and underwriter, Syndication will be offered to a small number of banks. Ilford, which has been disposed of by International Paper, specialises in monochrome, colour and ink jet reproduction technology.