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Temasek, the investment arm of the Singapore government, yesterday (Thursday) announced a further delay in the expected sale of its three power generation companies, PowerSenoko, PowerSeraya and Tuas Power. The government said that weak market conditions in the power sector was the reason for the latest delay to the sales process which began in 1998 Bankers had been looking forward to the sale for much of the year, following its earlier deferral in late 2001.

Amount: $1.46bn, Eu500m Rating: Aaa/AAA/AAA

Sole mandated arranger Citigroup/SSSB will next week wrap up syndication of the $205m project financing supporting the roll-out of a GSM network for cellular communications company Cel C. The deal is split into a $40m revolver and two ECA tranches, all carrying a margin of 200bp over Libor. Banks have been offered two tickets of $25m or $15m on a take-and-hold basis.

Mandated lead arranger Bank of Tokyo-Mitsubishi has launched syndication of the Eu75m five year term loan for Slovenske Elektrarne. The credit offers a margin of 150bp over Libor with a commitment fee of 65bp of the undrawn and cancelled portion of the facility. Three tickets are on offer: co-arranger for a take of Eu12.5m for a fee of 70bp; lead manager for a take of Eu10m for 65bp; and manager for ticket of Eu5m for a fee of 57.5bp. Commitments are due by December 6.

As with the other tightly priced relationship deals for investment grade borrowers in the loan market, banks invited to join A1/A+ Iberdrola's Eu1.5bn dual tranche facility have been complaining about the deal's poor return. But, as is the case with longstanding relationship banks, Iberdrola will expect them to step up the plate.

Abbey National has signed a $5bn structured note programme under the name of C-Sprint. Abbey National Financial Products is the arranger and sole dealer on the programme. Bank of New York is the principal paying agent. It is the 21st special purpose vehicle to come to the MTN market this year after Credit Suisse First Boston signed its self-arranged $4bn facility under the name of Sirens in October. Sirens, which is domiciled in the Netherlands, has yet to make its first issue off the programme.

Mandated arrangers Dresdner Kleinwort Wasserstein, KBC, Standard Chartered and WestLB signed the $50m 364 day facility for African Export and Import Bank (Afrexim) on Tuesday by fax. An official signing ceremony will take place today (Friday) in London. The facility has been increased to $85m.

ABN Amro is to sign a Eu5bn asset backed EuroCP programme through its Amstel Euro Funding SPV. The facility should be signed next week and the first issue will be launched in the first week of December, market conditions permitting. Arranger ABN Amro will be joined on the dealer panel by Citigroup/SSSB and Goldman Sachs. The programme will complement the issuer's $25bn USCP programme, which has outstandings of $23.9bn. An official at ABN told EuroWeek: "We wanted to add an additional market to enhance our funding and we are hoping to pick up investors in Europe who are not familiar with the asset backed market."

Troubled German insurer Allianz revitalised the financial institutions market this week with a knock-out Eu2bn deal that was oversubscribed by an extraordinarily healthy Eu6bn.

Troubled German insurer Allianz revitalised the financial institutions market this week with a knock-out Eu2bn deal that was oversubscribed by an extraordinarily healthy Eu6bn.

Anglo American plc has secured a $750m 364 day club deal through Barclays, Dresdner Kleinwort Wasserstein, BNP Paribas, HSBC and Royal Bank of Scotland. Proceeds will be used for general corporate purposes. Pricing has not been disclosed.