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Loan issuance by central and eastern European borrowers has been low so far this year, but looks likely to pick-up shortly. This week the mandate to arrange the new Eu100m five year EIB guaranteed facility for leading Polish telco TPSA was awarded to sole mandated arranger Sumitomo. Other lenders to the region are bound to welcome the deal with open arms due to the recent lack of new credit facilities. The loan will be launched into syndication in the next two weeks. Bidding for the prized mandate began back in October and EuroWeek understands that only a small number of banks were invited to take part in the discreet process.

Electricidade de Portugal (EdP) has not yet announced the arrangers of a refinancing of its undrawn Eu750m one year revolver which matures on March 27. Since the deal does not feature a term out option it must be refinanced before the due date. Bankers say that although the syndication timetable may be tight, existing lenders will probably roll over exposure to minimie syndication pressure.

Rating: Aa2/AA Amount: NZ$250m global bond

Rating: Aa2/AA Amount: A$100m

The $700m 14 year loan for Oryx GTL Limited was launched into syndication on Tuesday. For more details see EuroWeek 789.

Rating: Baa1/BBB+/BBB+ Amount: Eu400m

Rating: Baa1/BBB+/BBB+ Amount: Eu100m

Rating: Aa2/AA/AA- Tranche 1: $2bn

Rating: Aaa/AAA/AAA Amount: $400m

Rating: Aa2/A+/AA- Amount: Eu1bn global bond

Rating: Baa3/BBB/BBB Amount: Eu300m

Rating: Aa2/A+ Amount: £65m subordinated debt (fungible with £400m issue launched 26/03/02)