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Bank of Tokyo-Mitsubishi, HypoVereinsbank and Natexis Banques Populaires have been mandated by South African Airways (SAA) to arrange an aircraft financing. Proceeds from the deal will fund the purchase of an A340/600 worth around $130m.

Billionaire veteran investor George Soros was fined Eu2.2m over the Christmas period after being found guilty of insider trading. A Paris court found that Hungarian born Soros, 72, had profited illegally from inside knowledge of a 1998 takeover bid for SG, the French bank. Two other defendants, Lebanese financier Samir Traboulsi and Jean-Charles Naouri, an aide to former finance minister Pierre Beregevoy, were acquitted.

Standard & Poor's has assigned Iberdrola's Eu1.75bn bank loan an A+ long term senior unsecured debt rating. Banks were signed into the loan at the end of 2002. Arrangers are Bank of America, BNP Paribas, Barclays, Crédit Lyonnais, ING, Instituto de Crédito Oficial, HSBC and SG.

Although MTN dealers are optimistic about the year ahead, they believe the number of new programmes coming to the market in 2003 will be down on 2002. Some 116 MTN facilities were signed last year, was the lowest number of new programmes since 1993. "We will continue to see a decline in the number of new programmes in 2003, but I also think that the drop will not be as sharp as that from 2001 to 2002," said one MTN head of desk. The fall from 2001, when 149 programmes were signed, was noticeable but the second half of 2002 saw a slight pick-up in new shelves. There were 10 new programmes in December.

Amount: Sfr217m Maturity: January 15, 2010

The $90m five year term loan for PNOC Energy Development has been completed. Mandated arrangers include BDO Capital & Investment Corp pledging $20m and Barclays Capital, Bank of Nova Scotia, BNP Paribas and ING committing $8.33m apiece.

The mandate to arrange the $50m two year and one day bullet multi-currency revolver for Bank Amerykanski w Polsce (American Bank in Poland) has been awarded to RZB. The deal will be launched into syndication in the next two weeks. The facility is split into two tranches: a $35m term loan which carries a margin of 32.5bp and a $15m revolver which carries a margin of 35bp.

Rating: Aa2/AA Amount: C$100m

Guarantor: Rabobank Nederland Rating: Aaa/AAA/AA+

Rating: Aaa/AAA/AA+ Amount: C$200m

Rating: Aaa/AAA/AA+ Amount: Eu1.5bn (increased 08/01/03 from Eu1bn)

Rating: Aaa/AAA/AA+ Amount: Nkr500m