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Mandated arranger CSFB has launched general syndication of the Eu430m multi-tranche facility for Nycomed. This is the senior debt portion which makes up the financing backing the secondary buy-out of Nycomed by CSFB Private Equity, Blackstone and NIB from Nordic Capital. A bank presentation will be held in Oslo today (Friday). SEB Merchant Banking is jointly underwriting the deal. Two tickets are being offered during the retail stage of syndication: a Eu25m ticket for a fee of 75bp and a Eu15m ticket for 65bp. Senior debt is split into a Eu114m seven year term loan 'A' at 225bp over Euribor, a Eu103m eight year term loan 'B' with a margin of 275bp, a Eu103m nine year term loan 'C' paying 325bp and a Eu40m revolver at 225bp. There is also a Eu40m licensing facility, a Eu15m acquisition facility and a Eu15m capex loan. These tranches offer margins of 250bp.

Rating: AAA Amount: Sk750m

Following a month long bidding process involving two rival bidding groups, Bangko Sentral ng Pilipinas has awarded a verbal mandate for its annual $500m fundraising requirement. The winning consortium for the five year transaction comprises Citigroup/SSB, Crédit Lyonnais, HSBC, ICBC, Mizuho, Sumitomo Mitsui Banking Corp and Tokyo-Mitsubishi International (HK).

The Republic of the Philippines is looking to launch a seven year deal for up to Eu500m despite market concerns about the increasingly likelihood of military action against Iraq.

The Republic of the Philippines is looking to launch a seven year deal for up to Eu500m despite market concerns about the increasingly likelihood of military action against Iraq.

EuroWeek hears that PKN Orlen has approached its relationship banks to secure a facility of up to $500m with a tenor of up to five years. Although bidding is still at an early stage, the deal has caused a stir in the syndicated loan market. The keen interest is due to the quiet start to the year by central and eastern European borrowers, but is also due to the solid reputation of the borrower and its ambitions to expand its business.

Mandated arrangers Bank Austria Creditanstalt and RZB have launched syndication of the $25m two year and one day multi-currency facility for Bank Amerykanski w Polsce (American Bank of Poland). The facility is split into a $15m term loan which pays a 32.5bp margin and a $10m revolver which pays a margin of 35bp. For more details see EuroWeek 785.

EuroWeek hears that Lloyds TSB has arranged a new debt facility for Pool Reinsurance Company Ltd. No further details are available.

Compiled by Richard Favis RBC Capital Markets

Compiled by Holger Kron, Deutsche Bank Tel: +49 69 9103 4468

Compiled by Holger Kron, Deutsche Bank Tel: +49 69 9103 4468

Compiled by Holger Kron, Deutsche Bank Tel: +49 69 9103 4468