Bahrain The $300m five year term loan for Arab Banking Corporation has been launched to co-arrangers, offering 45bp for tickets of $15m. The loan pays a margin of 45bp.

Brazil Arrangers Citibank and Banco Santander Central Hispano have completed syndication of a $100m 364 day term loan for Citibank Brazil.

Hungary Arrangers ABN Amro, Central European International Bank, Commerzbank and WestLB are enjoying a strong response to the Eu300m five year term loan for the Republic of Hungary, which will close oversubscribed after general syndication.

Argentina Empresa Distribuidora y Comercializadora Norte (Edenor) has received a $62.5m 364 day loan from a group of international banks.

THE REPUBLIC of Portugal has announced the terms of its Eu1.5bn standby facility, which is being arranged by ABN Amro (books), Bayerische Landesbank (agent and documentation), Caixa Geral de Depósitos, DePfa, Greenwich NatWest (books) and WestLB (books). The three year deal carries a margin of 2.75bp over Euribor, with a facility fee of 2.75bp. The utilisation fee is 1.25bp if the credit is more than 50% used.

South Africa Dresdner Bank Luxembourg and Sumitomo Bank have won the mandate to arrange a $100m term loan for Telkom. The two arrangers have fully underwritten the deal.