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TCC International is looking to raise a $30m three year loan through arranger ABN Amro (Taipei). It will be guaranteed by parent company Taiwan Cement Corp. Syndicators have questioned the borrower's strategy as it already has a NT$4bn loan in the market, arranged by Chinatrust and HSBC.

The keenly awaited mandate to arrange the Eu1bn five year revolver for telecommunications group Telia-Sonera has been awarded to JP Morgan (bookrunner), Dresdner Kleinwort Wasserstein (bookrunner) and Svenska Handelsbanken. This will be a debut facility for the group which was formed in April 2002. Syndication will be launched in the second week of February.

South African telecoms operator Telkom yesterday (Thursday) launched its $700m IPO, despite the terrible performance of global stockmarkets. The offering kicks off South Africa's much delayed privatisation programme and its success is vital for the government.

South African telecoms operator Telkom yesterday (Thursday) launched its $700m IPO, despite the terrible performance of global stockmarkets. The offering kicks off South Africa's much delayed privatisation programme and its success is vital for the government.

Bonuses? Who needs them? Not us anyway. But it seems the rest of the world does. And they haven't been good. So it was a bad week to go galloping round the City visiting the syndicated loan market's bruised and battered bankers. Monday's main event was an in-house soirée at a French bank located in a distant northern suburb of London near picturesque Acton.

Toyota Motor Credit Corp (TMCC) this week added a highly successful seven year benchmark to its euro curve with the launch of a Eu1bn February 2010 bond via ABN Amro, BNP Paribas and Dresdner Kleinwort Wasserstein. The deal was increased from an envisaged Eu750m and priced at 16bp over mid-swaps, 2bp tighter than initial price guidance of plus 18bp. At this level, the deal was priced through TMCC's implied new issue curve. Even so, the book totalled over Eu2.3bn and the momentum was such that pricing was accelerated by 24 hours. In the aftermarket, the issue tightened by a further 2bp-3bp.

Guarantor: Total Fina Elf SA Rating: Aa2/AA

Guarantor: Tractebel SA/NV Amount: Eu50m

Rating: Ba3/B+/B+ Amount: $300m (fungible with $400m issue launched 29/10/02)

Rating: Aa1/AAA Amount: Eu1bn