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Bidding is under way for the mandate to arrange the new Eu70m to Eu100m one to three year facility for Slovenian Export Corporation (SEC). The mandate should be awarded in the next two weeks. Banks close to the deal include Bank Austria Creditanstalt and RZB. The borrower last tapped the market in October 2002 with a Eu70m five year facility.

Around 14 banks attended a meeting held in London by the South African Reserve Bank to thrash out the terms and conditions of its new $1bn three year term loan. Some banks, which have been approached to underwrite the facility, are awaiting credit approval before signing the mandate letter.

Banks were signed into the Eu1bn revolver for Empresa Nacional del Gas SA (Enagas) yesterday (Thursday). Arrangers are Banco Bilbao Vizcaya Argentaria, Banesto, Citigroup and La Caixa.

The Kingdom of Spain this week showed just how far it has risen in investors' estimation by pricing a Eu5bn syndicated 10 year Bono just 4bp back from the German Bund curve. The issue was run by bookrunners BBVA, Citigroup, Crédit Agricole Indosuez, Deutsche Bank and SCH. The sovereign's previous 10 year benchmark had been trading through Germany's benchmark for several weeks, benefiting like other non-core European government bonds from the poor performance of Bunds. The comparison was also flattering to Spain, whose 2012 Bono was being quoted against a 2013 Bund.

Spanish electricity group Iberdrola signed a Eu1bn EuroCP facility arranged by UBS Warburg this week. UBS is joined on the dealer panel by Banco Bilbao Vizcaya Argentaria, Barclays Capital, Crédit Agricole Indosuez, JP Morgan and Morgan Stanley.

Rating: AA-/AAA Amount: Eu200m

Mandated arrangers ABN Amro, Deutsche Bank and Nordea closed syndication of the $1bn five year facility for Scania this week. Banks will be signed into the deal in two weeks. The transaction has been oversubscribed but no increase will be accepted. For more details see EuroWeek 794.

Standard Life Investments has increased its fledgling investment business in Asia, hiring John Shin as its chief representative in Korea. Shin will be responsible for representing Standard Life Investments in the Korean equities market, with his main role being to develop key strategic distribution relationships. The investment house's longer term aim is to build a fund distribution business in Korea which will complement its existing Asian coverage.

ABN Amro, Barclays and Commerzbank have been mandated by reinsurance company Converium to arrange a $800m loan. Converium was created when Zurich Re and Zurich Financial Services separated. The company is rated A2/A. A bank meeting will be held on Tuesday.

Amount: Eu500m Legal maturity: September 24, 2008