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* Asset Backed Capital Ltd Rating: AAA/AAA (S&P/Duff & Phelps)

India Bank of America (Singapore), Bank of Nova Scotia Asia and Development Bank of Singapore are arranging a $63m club loan for Great Eastern Shipping Co.

* BGB Finance Rating: Aa1/ AAA (IBCA)

* Asset Backed Capital Ltd Rating: AAA/AAA (S&P/Duff & Phelps)

CREDIT Suisse First Boston and SBC Warburg Dillon Read kicked off the European leg of the roadshow for the forthcoming $400m 10 year Euro/144A offering for the Republic of Lebanon this week. Having visited Switzerland and the UK this week, the focus of the marketing effort will now move to the US, with the launch of the landmark deal -- the longest dated stand alone transaction from the sovereign to date -- likely to take place late next week. Price talk on the B1/BB- rated transaction is 230bp-250bp over Treasuries.

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LATIN Americans issuers continue to storm the lira market, with Petrobras expected to launch its Lit260bn 10 year deal either today (Friday) or on Monday and with Pemex and the UMS both lining up to issue soon after. Lead managers Chase were on Thursday waiting for the go-ahead on the Petrobras deal, which will raise the equivalent of about $150m. The transaction is expected to have an aggressive step-down coupon, dropping from 10% to 6.5%.

* Banque et Caisse d'Epargne de l'Etat Luxembourg Rating: Aa1/AA+

THE GERMAN government's final sale of stock in Lufthansa was completed this week, despite continued volatility in the domestic stock market following last week's European interest rate rises. Global co-ordinators Dresdner Kleinwort Benson and SBC Warburg Dillon Read priced the deal at DM33.30 to raise DM4.7bn ($2.65bn) in the largest German privatisation share offering since last year's sale of stock in Deutsche Telekom.

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Saudi Arabia The benchmark setting $2.3bn loan being arranged for Yanpet by Arab National Bank (joint documentation), ANZ Investment Bank (technical bank), Bank of America International Ltd (joint documentation, timetable and technical bank, co-ordinating bank), Barclays, Chase Investment Bank, Gulf International Bank (Middle East regional books), JP Morgan Securities Ltd (global books), Riyad Bank, Saudi American Bank, Saudi British Bank and Sumitomo Bank has been an outstanding success at the initial sub-underwriting phase.