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Power Sector Assets and Liabilities Management (Psalm) launched a ¥61.75bn ($500m) two tranche transaction this week for Philippines' debt laden National Power Corp (Napocor). The 18 and 20 year Reg S issue carried guarantees from the Asian Development Bank (ADB) and Republic of the Philippines to boost the rating to Baa1.

Banks were signed into the £900m dual tranche loan for BBB rated RMC Group plc on Monday. The deal proved a tough sell and was reduced from £1bn. "RMC is suffering from post merger blues," said one banker, "on top of which banks are a little wary of the sector."

Mandated arrangers Raiffeisen Zentalbank Österreich and ZAO Raiffeisenbank Austria have closed syndication of the $10m six month pre-export finance facility for Ak Bars Bank. The deal has been oversubscribed and increased to $15m. Banks will be signed into the facility in the next two weeks. The credit pays a margin of 390bp over Libor. Repayment will start in the second month and will be repaid in equal monthly repayments thereafter. The facility also carries an option for a further six month extension at the lender's discretion. Proceeds will be used for export finance transactions. The borrower is 20% owned by the Republic of Tatarstan.

Merrill Lynch continued to slim down top management this week, as part of chief executive Stanley O'Neal's efforts to cut costs by replacing co-heads with single chiefs. The bank announced that two of its top managers in Europe are to step down in February. Michael Marks, the bank's chairman for Europe, Middle East and Africa (EMEA), and Paul Roy, co-president of global markets and investment banking (GMI), are set to leave the firm.

Guarantor: Shell Petroleum Company Ltd/Shell Petroleum NV Rating: Aaa/AAA

Mandated arrangers Danske Bank and SEB Merchant Banking this week signed banks into the $225m five year multi-currency revolver for Haldex AB. The deal was oversubscribed but not increased. Svenska Handelsbanken joined as a senior co-arranger before syndication. NordLB was a co-arranger. ING, Comerica Bank, HSBC, Landesbank Baden-Württemberg, LB Kiel and Swedbank were lead managers and Natexis Banques Populaires a manager.

Guarantor: TotalFinaElf SA Rating: Aa2/AA

The 16 mandated arrangers will close syndication of the $250m 365 day facility for Türkiye is Bankasi (Isbank) by today (Friday). The deal has been oversubscribed to over $300m, but it is not known how much of an increase the borrower will accept. The deal will be signed on December 17. So far 20 banks joined during general syndication. For further details see EuroWeek 778. The mandated arranger will close syndication of the $150m 365 day facility for Koç Holding on Friday December 20. The deal has already raised in excess of $200m, however, it is unlikely that the increase will be accepted. For more details see EuroWeek 781.

Mandated arrangers ABC and Crédit Lyonnais will sign banks into the $50m amortising five year term loan L'Enterprise Tunisienne d'Activités Petrolières (ETAP) next week. The deal has received a modest oversubscription but it is unlikely that the borrower will accept the increase. For more details see EuroWeek 778.

Bank of America, BNP Paribas, HSBC, JP Morgan, Royal Bank of Scotland and Lloyds look set to be key underwriting figures in the highly secretive loan for Cadbury Schweppes. The financing - which bankers refuse to discuss - could well be for up to £6.5bn.