Search results for

The Eu30m five year facility for Telekom Slovenije has been signed through mandated arrangers Bank Austria Creditanstalt and Mizuho. Investkredit Bank also joined the deal. Two levels of participation were offered: lead manager for a take of Eu5m for a fee of 35bp; and manager for a take of Eu2.5m for 25bp. The facility carries a guaranteed fee of 65bp until December 2004 and then 75bp thereafter. The facility carries an EIB guarantee.

According to banks which bid for the mandate to arrange Kumba Resource's debut syndicated loan, the corporate is likely to put off borrowing until 2003. Kumba is looking for a $125m three year amortising term loan and is likely to mandate around six banks to provide the club deal. ABN Amro, Bank of Tokyo-Mitsubishi, Citigroup/SSSB, Dresdner Kleinwort Wasserstein and SMBC are thought to have submitted bids.

Fortis Bank has joined sole mandated arranger HVB as an underwriting arranger in the syndication of the Eu220m Eurovento project financing. After the bank meeting and site visit last Thursday and Friday, HVB received a positive response from the market.

Guarantor: Republic of Austria Rating: Aaa/AAA

More details have emerged on the $700m 14 year financing for Qatar Gas-to-Liquids, the first gas-to-liquids project financing in the world. Roles among the 15 arrangers of the deal have been allocated: ABC, Abbey National Treasury Services, Apicorp (joint regional bookrunner), BNP Paribas (documentation and facility agent), Bank of Tokyo-Mitsubishi, Crédit Agricole Indosuez (international bookrunner), Crédit Lyonnais, Gulf International Bank (joint regional bookrunner), HSBC (security trustee), HVB Group, KBC (technical bank), Mizuho (insurance bank), Qatar National Bank, RBS (financial adviser) and SMBC.

The Kingdom of Sweden was in the Eurodollar market again this week with an oversubscribed and opportunistic $1bn trade in three years via Credit Suisse First Boston and JP Morgan. Only two weeks ago the sovereign was in the market with a $750m 2009 issue. "This issue offered us the opportunity of tapping into very attractive funding levels at a point on the curve that offered investors a good yield pick-up over Treasuries," said Maria Norstrom, assistant director responsible for domestic and foreign currency funding at the Swedish debt office. "With this transaction, we have completed our foreign currency funding requirement for the year and will not be in the public market again until 2003."

Syndication of the Eu250m leveraged financing for Findus has been closed oversubscribed. Banks and institutions will be signed into the deal next week.

Swiss Life's proposed Sfr1.2bn capital increase was thrown into further turmoil this week by revelations that the insurer has been asked by the Swiss regulator to explain a capital increase at an investment vehicle. The disclosure comes a week after Swiss Life reported an IT error had resulted in Sfr192m of losses not being accounted for in its second-half results.

Banks and institutions which committed to the $635m dual tranche facility for Centrepulse will be funded into the deal on November 4. US-based institutional investors in particular have responded enthusiastically to the deal - despite unusual proceeds.

Although tax complications still militate against the expansion of a market for true sale securitisations in Germany, the market for synthetic deals continues to expand - driven principally by the increasing pressures that are being piled upon the German banking industry. As Philip Moore reports, KfW's Provide and Promise programmes have played a vital part in the market's growth.

Winbond Electronics has mandated Chinatrust Commercial Bank and First Commercial Bank for a $106m five year term loan. Banks will earn a margin of 90bp over Libor and a commitment fee of 20bp. Fees to the market are being decided.