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Two Italian names plan to come to the EuroMTN market shortly, reflecting the increasingly popular trend towards alternative sources of finance in Italy. The Italian Region of Emilia Romagna is to sign an MTN facility in the next two months and the Autonomous Province of Trento has chosen the arrangers for its debt issuance shelf. Emilia Romagna has mandated Dexia Crediop, JP Morgan and UniCredit Banca Mobiliare to arrange its Eu1bn EuroMTN programme. No other dealers have yet been chosen. The programme is nearing completion, with the finishing touches currently being put to the documentation, according to one of the arrangers.

Two Italian names plan to come to the EuroMTN market shortly, reflecting the increasingly popular trend towards alternative sources of finance in Italy. The Italian Region of Emilia Romagna is to sign an MTN facility in the next two months and the Autonomous Province of Trento has chosen the arrangers for its debt issuance shelf. Emilia Romagna has mandated Dexia Crediop, JP Morgan and UniCredit Banca Mobiliare to arrange its Eu1bn EuroMTN programme. No other dealers have yet been chosen. The programme is nearing completion, with the finishing touches currently being put to the documentation, according to one of the arrangers.

The selldown of the Eu171m senior debt facility for Teksid should be wrapped up next week. JP Morgan is mandated lead arranger, while BNL is lead arranger.

Guarantor: Japan Rating: Aa1/AA-

Rating: A1/A+/AA- Amount: Eu250m

Rating: AAA Amount: Sfr500m

Mandated arrangers EBRD and RZB have been awarded the mandate to arrange a new $30m four year multi-tranche facility for BankTuranAlem. The facility consists of two tranches: a $10m 'A' loan provided by the EBRD and a $20m 'B' loan which will be fully underwritten and syndicated by RZB in early 2003. The facility carries a tenor of four years, but participants have the option to request repayment of the 'B' loan after two years.

Sibneft impressed bankers this week by the speed with which it priced a $500m January 2009 bond, its third debt capital markets transaction so far this year. Lead manager Citigroup/SSSB began bookbuilding on Monday morning and had already gathered orders of $750m by the end of the day. "The company was prepared to go on a roadshow, but we found that there was no need," said Rafael Biosse Duplan, director of debt capital markets at Citigroup/SSSB in London. "It is remarkable to note the speed with which we were able to put this transaction together."

The mandate to arrange the Eu64m seven year facility for paper and pulp company Severoslovenske Celulozky a Papierne, Ruzomberok has been awarded to Bank Austria. The deal will be a club-style facility. Selected banks have been invited to join. Confirmed commitments are due in the next two weeks. The borrower last tapped the market in June 1998 with a Eu24.2m five year term loan. Mandated arranger was Citigroup/SSSB. Proceeds were for capital expenditure.

Mandated arranger RZB has this week launched a Eu30m seven year FRN for Nova Kreditna Banka Maribor (NKBM). Commitments are due by December 6. The deal offers much higher pricing than a straight syndicated loan and is understood to pay in excess of 150bp.

Responses are due today (Friday) on the syndication of Iberdrola's Eu1.5bn dual tranche facility. Arrangers ABN Amro, BBVA, JP Morgan, Crédit Agricole Indosuez, Dresdner Kleinwort Wasserstein and Banesto expect the deadline to slip a little, but remain confident that the deal will be successfully placed. For full details see EuroWeek 779.