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CSFB and Merrill Lynch have launched the Eu600m of debt facilities backing the recapitalisation of Grohe into general syndication. Banks have been asked to take Eu25m for 75bp or Eu15m for 62.5bp.

France Télécom yesterday (Thursday) completed its groundbreaking Eu15bn rights issue after pricing its Eu1.3bn rump at Eu19 per share. After a minor hitch regarding the calculation of the size of the rump, the placing was completed smoothly to wrap up the largest rights issue ever.

Rating: Aa3/A+ Amount: $500m (fungible with $1.5bn issue launched 10/01/03)

Rating: Aaa/AAA/AAA Amount: Skr1.25bn

Rating: Aa3/A+/AA- Amount: Eu750m global bond

A number of banks including HSBC, BNP Paribas and Bank of China are bidding for a fundraising for China Resources Co. No timeframe has been set for bids to be lodged with the borrower but competition for the mandate will be fierce.

Class A notes: Eu50m Rating: Aaa/AAA

German lenders Dresdner Kleinwort Wasserstein (DrKW) and WestLB are conspicuous by their absence from Dealogic Loanware's table of the top 10 mandated lead arrangers of European, Middle East and African loans in the first quarter of 2003. Considering the damage corporate Germany has inflicted on its leading banks, the absence of WestLB, which was in ninth position in 2002, and DrKW, which was fifth, is understandable. However, both banks are still in business and are able and willing to lend to their core clients.

HSBC has hired Benedict Perez to replace Timothy Voake as head Asian equity sales in its New York office. Perez has previously worked as managing director, head of Asian equity sales and trading at SG Cowen in New York for five years. Before that, Perez worked for five years at ING Barings in New York, covering southeast Asian equity sales at ING Barings. He has 10 years' experience selling Asian equities to a US investor base.

Mandated arrangers JP Morgan and ING will launch syndication of the Eu500m five year loan for Mol next week. Arrangers are still sorting out the last details of the documentation. Crédit Lyonnais has closed syndication of a Eu98.237m term loan for AES Tisza Eromu, a company is 99% owned by AES.

Guarantor: Iberdrola SA Rating: A2/A+/AA-

Rating: A2/BBB+/A Amount: Eu150m Öffentlicher Pfandbrief series 4884