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Rating: Aa2/AA/AA Amount: Eu487.308m

Mandated lead arrangers Bank of America, BNP Paribas, HSBC (joint bookrunner and documentation agent), Royal Bank of Scotland (joint bookrunner and facility agent), and WestLB will close syndication of the £1bn loan for RMC Group plc next week. Banks have been offered tickets of £30m for 22.5bp, £20m for 17.5bp and £10m for 12.5bp. The initial margin is 75bp and ratchets between 50bp and 90bp according to a net debt-to-Ebitda ratio.

Alfa Bank this week achieved its goal of being the first private Russian bank to return to the international bond markets since 1998, with a $175m three year bond that was increased from an original target of $150m. Lead managers Merrill Lynch and UBS Warburg built a book of $300m for the transaction, which was priced with a 10.75% coupon.

ating: B1/B- Amount: $500m global bond

Struggling UK insurer Royal & Sun Alliance yesterday (Thursday) announced a wide ranging set of reforms aimed at reducing the cost base and capital requirements of the group. Falling equity markets and a drag on prior claims have forced the broadly focused insurer to address its weakening capital position. The company had previously admitted that it may be forced to launch a rights issue to cover its policy shortfalls. But instead, Royal & Sun Alliance yesterday announced a series of cutbacks that it hopes will see the group back on track by 2004.

Sole mandated arranger Standard Bank will sign banks into a $30m three year pre-export finance facility for Sidanco next week. Offtakers for the deal are BP and Vitol. The borrower last tapped the market in March with a $140m 1-1/2 year term loan. Mandated arrangers were Natexis Banques Populaires and SG. That credit paid a margin of 380bp over Libor and offered a top ticket of $20m for a fee of 90bp.

A bank presentation was held yesterday (Thursday) for the launch of syndication of the £1.5bn five year revolving credit facility for Scottish & Newcastle. Three tickets have been offered to the market: arrangers taking £100m for fees of 25bp; co-arrangers with £75m for 20bp; and senior lead managers taking £50m for 15bp.

Mandated arrangers Bank Austria Creditanstalt, KBC Bank, LB Kiel and WestLB signed banks into the Eu50m five year facility for Nova Ljubljanska Banka this week. The deal was increased to Eu95m at signing. The mandated arrangers took Eu10.875m each. Erste Bank joined as a co-arranger for a ticket of Eu7.5m for a fee of 32.5bp. Fortis Bank joined as a lead manager for a take of Eu5m for 30bp. Zürcher Kantonalbank joined as a manager for a take of Eu4m and American Express Bank, Israel Discount Bank of New York and one undisclosed investor also joined as managers for takes of Eu3m. Kärntner Sparkasse, Baden-Württembergische Bank, Banca Nationale del Lavoro International, Bawag, Banque et Caisse d'Epargne de L'Etat, China Construction Bank, Commercial Bank of Greece, Magyar Kulkereskedelmi Bank and Kredietbank Luxembourg joined as managers for takes of Eu2.5m for 27.5bp.

Arrangers of the $200m three year term loan for Standard Bank of South Africa signed banks into the deal this week. The credit was oversubscribed and increased to $225m. Mandated arrangers are Bank of Tokyo-Mitsubishi, HVB Group, BayernLB, Dresdner Kleinwort Wasserstein, KBC Bank, Mizuho, Royal Bank of Scotland, Standard Chartered, Sumitomo and UFJ. Citigroup/SSSB and RZB joined as arrangers. Chinatrust Commercial Bank and LB Kiel joined as co-arrangers for a ticket of $10m for a fee of 30bp. Lead managers Arab Bank, Bank Austria Creditanstalt, Crédit Lyonnais, Erste Bank, Vereins- und Westbank and WGZ Bank joined for takes of $7.5m for 25bp. Zürcher Kantonalbank, Hua Nan Commercial Bank and Israel Discount Bank of New York joined as managers for tickets of $5m for 20bp. The facility pays a margin of 70bp over Libor. Proceeds will be used for general corporate purposes.

The Eu1.66bn best efforts recapitalisation of paper packaging company Lecta by Deutsche Bank will be wrapped up next week. The deal is split into a Eu538m seven year term loan 'A' offering a margin of 200bp over Euribor, a Eu358m eight year term loan 'B' paying 250bp, a Eu100m seven year revolver paying 200bp and a Eu70m seven year capex facility offering 200bp.

Rating: Aaa/AA+ Amount: Nkr5bn

Rating: Aaa/AA+ Amount: Nkr7bn