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Argentina * Banco Hipotecario Nacional

Deutsche Morgan Grenfell has appointed Ian Gilday and Sean Mallone to its London syndication team. Both will hold senior positions. Gilday joins from NatWest and will focus on the LBO sector. Mallone joins from UBS and will focus on the corporate acquisition sector. Both will report to Richard Munn.

* SüdwestLB Capital Markets plc Guarantor: Südwestdeutsche Landesbank Girozentrale

* Siemens Capital Corp Guarantor: Siemens AG

THE RUSSIAN Federation shrugged off political concerns this week to make a successful debut in the Eurolira sector. Thanks to market-sensitive deal management by joint bookrunners Credito Italiano and JP Morgan the five year issue was able to be increased from a launch size of Lit500bn on Tuesday morning to Lit750bn on Thursday afternoon - the maximum amount permitted for emerging market borrowers by the Italian central bank. With a 9% coupon the issue was priced to yield 435bp over the five year lira swap rate on a fixed re-offer price of 98.71 at launch - at the bottom end of the 435bp-440bp indicative pricing range and roughly flat to Russia's interpolated yield curve in Deutschmarks.

* Bank Nederlandse Gemeenten NV Rating: Aaa/AAA

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GLOBAL co-ordinator SBC Warburg Dillon Read and joint bookrunner Cazenove this week released the pathfinder prospectus for the flotation of Thomson Travel which values the company at between £1.4bn and £1.7bn. The deal will be launched in May with shares being marketed to UK and international investors at a price range of £1.40 to £1.70.

* Société Générale Acceptance NV Guarantor: Société Générale

THE FINAL stages are now in sight for the merger of Neste, the oil firm owned by the Finnish government, with local electricity concern Imatran Voima, a transaction that will pave the way for the privatisation of the new entity. As part of this process, the Finnish government is repurchasing the 16.8% Neste free float so it will wholly own the company before the merger.

LATIN American corporates and banks are ploughing back into the Eurobond and Yankee markets now that investors have absorbed the recent slew of sovereign issues and are showing a resurgence of interest in Latin private sector credits. Yesterday (Thursday) Banco Montevideo became the first private sector Uruguayan entity to tap the US dollar market with a $100m 10 year offering issued at 290bp and led by UBS Securities.