GLOBALCAPITAL INTERNATIONAL LIMITED, a company

incorporated in England and Wales (company number 15236213),

having its registered office at 4 Bouverie Street, London, UK, EC4Y 8AX

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  • * Citicorp Rating: A1/A
  • PERU and Brazil are lining up to join the list of Latin sovereigns tapping the international markets in the months ahead. Both countries confirmed this week that they are considering capital raising plans for the fourth quarter. Eduardo Valdivia Velarde, Peru's secretary of external debt, told investors in New York this week that Peru is considering accessing the global debt markets for the first time, although in small size.
  • BZW has announced several new hires for its fast growing loan trading business. Steven Zander and Cecilia McAnaulty have joined as associate directors in the bank's high yield investment group reporting to David Forbes-Nixon, director, European loan trading and high yield investments.
  • MEXICAN oil company Pemex appeared to sacrifice some spread this week to issue $1bn worth of 10 and 30 year global bonds amid a deluge of Latin American sovereign paper resulting from the Brady debt exchanges. The offering, led by Goldman Sachs and Chase on the 30 year tranche and by Goldman Sachs and UBS Securities on the 10 year, was increased from an original $750m size, with $600m of 10 year bonds and $400m of 30 year paper.
  • Finland The well supported $350m seven year multicurrency revolving credit being arranged for Nokia Oy by Chase Investment Bank, Citibank NA and Deutsche Morgan Grenfell is to be signed today (Friday) in Helsinki.
  • * European Investment Bank Rating: Aaa/AAA
  • * Finnish Export Credit Rating: Aa1/AA
  • * General Motors Acceptance Corp Rating: A3/A-
  • DEN norske Bank and HSBC Investment Bank are arranging a rare foray into the syndicated loan market by Norwegian shipping company Stolt Comex Seaway. The $250m facility, which is split between a $90m six year term loan, an $80m three year revolving credit and an $80m six year guarantee facility, is being syndicated on a confidential basis among specialist shipping lenders.
  • Domestic issuance: * Pfandbriefzentrale der Schweizerischen Kantonalbanken (series 310)
  • SWEDISH state owned telecommunications group Telia AB has announced plans to set up a $1bn Euro-MTN programme in a move which will take the borrower into the Euromarkets for the first time. Deutsche Morgan Grenfell has been mandated to arrange the programme. Telia has funding of between Skr10bn to Skr12bn to complete in the next 15 months and will be using the Euro-MTN facility to complement its Skr8bn domestic funding programme.