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Huan Hsin Holdings has awarded a mandate to OCBC to arrange a $30m five year term loan. The borrower produces and supplies telecoms, IT-related, consumer electronics and electrical products and components to original equipment manufacturers (OEMs).

Guarantor: AFK Sistema Corp Rating: B/B-

Russian holding company Sistema yesterday (Thursday) priced a $350m five year debut Eurobond, one week after the deal was postponed due to regulatory requirements. Lead managers Deutsche Bank and ING had been targeting a 144A transaction, but the discovery of a little-known US Federal Reserve regulation - Regulation U - relating to margin financing, led the banks to opt for the Reg S structure. Sistema's transaction is secured by a lien over MTS shares, and the regulation prohibits US investors from taking part in deals that have shares pledged.

The Slovenian syndicated loan market is heating up with three deals for its leading banks on offer to hungry central and eastern European investors. The three deals are a Eu50m facility for Banka Celje which will be launched into syndication next week and a new facility for Nova Kreditna Banka Maribor (NKBM). Bidding is also under way to arrange a loan for Nova Ljubljanska banka. Mandated arrangers for the Eu50m five year amortising term loan for Slovenia's sixth largest bank Banka Celje are Bank Austria Creditanstalt, Bawag, LB Kiel and RZB.

Mandated arrangers Standard Bank and Sumitomo signed banks into the $250m four year revolver for Mobile Telephone Networks Holdings Limited (MTN). The facility was oversubscribed but not increased. The transaction pays a margin of 175bp over Libor. Absa Bank, Barclays Bank, Commerzbank and Nedcor Trade Services are joint arrangers. ABN Amro and RMB are co-arrangers. Investec Bank, China Construction Bank, Citigroup, Standard Chartered and WestLB are managers.

Amount: Eu183.5m Legal maturity: April 7, 2013

Compañía Valenciana de Cementos Portland (Valenciana) has requested bids for a new loan. The company has an outstanding Eu800m revolver. BBVA, Citigroup and Deutsche Bank arranged that deal which was signed in 2001. The initial margin was 70bp over Euribor and was tied to a gearing grid. For a top ticket of Eu30m banks were offered 27.5bp.

Rating: Aa2/AA+ Amount: Sfr200m

Universal Scientific has awarded separate mandates to Chinatrust Commercial Bank for a NT$1.5bn three year revolving credit and to Citibank (Taipei) for a $45m three year term loan. Banks receive a margin of 95bp over the CP fixing rate for the NT$1.5bn fundraising. Pricing details are being finalised for the $45m equivalent deal.

Mandated arranger SEB Merchant Banking has signed banks into the Skr3.5bn five year revolver for Fastighets AB Tornet. EuroHypo, Danske Bank, LB Kiel, Westdeutsche ImmobilienBank, Svenska Handelsbanken and Nykredit Bank joined the deal during syndication. The borrower is a property company with a portfolio valued at Skr21.4bn.

Banks were signed into two new facilities for the Nordic region this week amid signs that the sector will continue to be busy throughout the rest of 2003. The first was the Eu1bn facility for Sweden's Telia-Sonera, the second a $700m facility for automotive safety systems manufacturer Autoliv. As has become usual for deals in the region both facilities were well supported, oversubscribed and subsequently increased.