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SIGNS of a possible dimming of investor interest in Latin new issues emerged last night (Thursday) when Bachoco, the Mexican chicken processor, priced its equity offering at the lowest end of its price talk. The deal, led by JP Morgan, was priced at $17 per share, compared with a $17 to $19 indicated range. A total of 7.5m ADSs (with each ADS representing one B share and one L Share) were offered in the US, internationally and domestically.

THE LATIN markets are bracing themselves for the chance of another billion dollar plus global bond from a Latin sovereign -- this time from the Republic of Brazil, strongly rumoured to be planning an announcement of either a 10 year or a 20 year bond issue at the IMF meeting. Bankers said yesterday that the republic's central bank called for bids on either 10 year or 20 year global bonds around a month ago, with the intention of making a splash at the IMF, either with a blowout deal executed just prior to the fund's meeting, or with the announcement of a mandate.

* Bank of Nova Scotia Rating: Aa3/AA-

JP MORGAN and Merrill Lynch are strongly tipped as likely joint winners of the ratings advisory and lead management mandate for the planned Eurobond issue from the Republic of Bulgaria. The two US investment banks are believed to have beaten off competition from Goldman Sachs, ING Barings, SBC Warburg and UBS. Officials from all six banks were in Sofia this week for discussions with the Bulgarian finance ministry. An official confirmation of the mandate is expected by the end of the month.

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THE FLOTATION of China Telecom looks set to break all Asian equity capital market records as the company and its advisers prepare to begin pre-marketing the share offering in Asia next week.The Hong Kong-listed IPO, one of the most eagerly awaited new equity issues from the Asia-Pacific region yet, will be China's largest international share offering and a bellwether of investor sentiment towards the country. Despite the current turbulence in Asian financial markets, Chinese officials hope the deal will focus global attention on the country's remarkable recent economic development. Led by joint bookrunners Goldman Sachs and China International Capital Corp (CICC), the 2.2bn share flotation has been shrouded in secrecy following threats by the Hong Kong Stock Exchange (HKSE) to dismiss syndicate members caught disseminating unauthorised information.

DEBUT Euromarket issues for two of Russia's leading banks this week proved that the bid for Russian assets remains as strong as ever with both transactions emerging for larger than expected amounts. First to hit the screens was a $200m two year FRN for trade finance bank Vneshtorgbank (VTB).

* European Investment Bank Rating: Aaa/AAA

THE EURO-MTN market's rapidly growing telecom sector was boosted this week with the establishment of a $1bn Euro-MTN programme for Belgacom and the announcement by Deutsche Telekom that it had mandated Deutsche Morgan Grenfell to arrange its forthcoming Ecu3bn Euro-MTN facility. Belgacom follows Telenor, Telefónica de Espa¥a, KPN and most recently Telia into the market. Belgacom's programme was arranged by Merrill Lynch, which is joined in the dealer group by Deutsche Morgan Grenfell, JP Morgan, Morgan Stanley Dean Witter, Salomon Brothers, SBC Warburg Dillon Read and UBS.

* Generale Bank Nederland NV Amount: Dfl 250m subordinated debt

Croatia The recently syndicated DM35m five years at 95bp over Libor term loan for Dalmatinska banka being arranged by Bayerische Landesbank and Bayerische Vereinsbank AG was signed on Tuesday in Zadar.

NEW EURODOLLAR issues again struggled to get off the ground this week, leaving debt syndicate managers increasingly concerned about the state of the sector.