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Guarantor: Fortis Bank SA/NV Rating: A1/A+/A+

Rating: Aaa/AAA Amount: $3bn

Rating: Aaa/AAA/AAA Tranche 1: $2bn

Mandated arrangers Commerzbank, Danske Bank and LB Kiel have signed banks into the Eu150m five year revolver for Finnforest Oyi. The deal was oversubscribed and increased to Eu240m at signing. HSBC, Nordea and OKO Osuuspankkien Keskuspankki Oyj joined as co-arrangers. Bank Austria Creditanstalt, Barclays Bank, BayernLB, BNP Paribas, Crédit Agricole Indosuez, Crédit Industriel et Commercial, Den norske Bank, Svenska Handelsbanken, NordLB, Royal Bank of Scotland, Sampo Bank and Aktia Savings Bank are senior lead managers.

Banque PSA, the financial subsidiary of Peugeot, has requested proposals from its banks for a new loan. Peugeot's facility will be between Eu2.5bn and Eu3bn. The deal will refinance a Eu1.85bn five year facility signed in 1999. BNP Paribas, Barclays, Crédit Lyonnais and HSBC arranged the 1999 loan.

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.