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* Energieversorgung Niederösterreich AG (EVN) Rating: Aa3/AA+

THE EUROMARKET finally paused for breath this week at the end of the most hectic first two months of the year on record. But the pause will be short lived, with a number of top quality borrowers lining up jumbo financings. The EIB, Fannie Mae, the World Bank and the German Länder all have superliquid deals in the pipeline -- and they could all potentially come to the market next week.

THE roadshow for the next offering of shares in Hungarian oil company Mol will begin on March 6 in Budapest. Presentations will continue on March 9 and 10 in continental Europe followed by three days in London. The roadshow will move the following week to the US before the book is closed on March 19, with pricing and allocations on March 20. Dresdner Kleinwort Benson and Creditanstalt are lead managing the deal.

SBC Warburg is arranging a £500m credit facility that will part finance the merger of HMV's record stores with Dillons bookshops and Waterstone's. Merrill Lynch is also arranging a high yield bond issue totalling between £100m and £150m. Syndication of the £480m of debt facilities which are financing the demerger of the Burton Group has closed with considerable success.

* Sony Corp Rating: Aa3/A

* Banque et Caisse d'Epargne de l'Etat Luxembourg Rating: Aa2/AA-

MTN ORIGINATION teams are pitching for the mandate to arrange an MTN programme for the Generalitat Valenciana, the first such facility to be set up by a Spanish region. Questionnaires sent out by the authority were submitted by the end of January and the region is in the final stages of the decision process.

Asset backed securities: * Leon

AMERITECH, the Chicago based telecom company, has begun the sale of its 24.95% shareholding in Telecom New Zealand via a global secondary share offering that should raise around NZ$3.5bn ($2bn). Credit Suisse First Boston and Merrill Lynch, which have been advising the US company on the sale, will be joint global co-ordinators of the bookbuilt offering which is to be completed at the start of April.

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China CCIC Finance has been mandated to arrange a $15m loan for Flying Dragon Investments Ltd, an investment trading company wholly owned by Guangdong Finance International Trust & Investment Corp, which is providing a letter of support. Proceeds are to finance the import of paper manufacturing equipment from Finland to be used in the borrower's plant in Guangdong province, China. New Century International Leasing Co Ltd is tapping the market with a four year $31.5m loan arranged by Crédit Lyonnais. The four year amortising loan pays a margin of 125bp.

Australia Pioneer International Ltd has launched a $350m self-arranged facility through subsidiaries Pioneer Investments BV, Pioneer International Finance Ltd and Pioneer International Finance USA Inc. The five year facility features a guarantee from the parent company and pays a margin of 13bp, front end fees of 5bp and an annual line fee of 12bp.