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Guarantor: Nestlé SA Rating: Aaa/AAA

Rating: Aaa/AAA Amount: $300m

The new chairman of the US Securities and Exchange Commission (SEC) has promised to make the financial markets more accountable in the wake of the corporate frauds that have rocked investors' confidence. Former investment banker William Donaldson, who was sworn into the post this week, also said he would encourage better relationships with small investors.

Italy Struggling industrials group Fiat denied on Wednesday that it had decided to launch a capital increase. Following a meeting with its advising banks last Saturday, the Italian press had claimed the company was planning to raise Eu1.7bn-Eu3bn through a rights issue.

A number of banks have signed up as sub-underwriters for the $500m five year term loan for Bangko Sentral ng Pilipinas arranged by Citigroup/SSB, Crédit Lyonnais, HSBC, ICBC, Sumitomo Mitsui Banking Corp, TMI International (HK) and Mizuho. The arrangers have extended the deadline until next week to allow a few stragglers to obtain head office credit approval.

Amount: Eu190.5m Legal maturity: May 5, 2013

Mandated arranger BayernLB launched the Eu125m three year bullet term loan for Bank Millennium into general syndication on Tuesday. Three tickets are on offer: co-arranger for Eu10m for 33bp; senior lead manager for Eu7.5m for 30bp; and lead manager for Eu5m for 27bp. Commitments are due by March 11. The deal pays a margin of 45bp over Libor. Proceeds will be used to refinance a $170m term loan signed in April 2000. Syndication of the $25m two year and one day multi-currency facility for Bank Amerykanski w Polsce (American Bank of Poland) will be closed next week by the mandated arrangers.

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.