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LIC Housing Finance is tapping the market for a $50m five year fundraising fully underwritten by arrangers ABN Amro and Bank of Baroda. The transaction pays a margin of 100bp over Libor and fees on three levels: co-arrangers earn 50bp for $10m tickets; senior managers gain 40bp for commitments of $5m-$9.9m; and managers receive 30bp for contributions of $3m-$4.9m.

Rating: A3/BBB+/BBB Amount: $350m

Rating: Aaa/AA+/AA+ Amount: $1bn

Rating: A1 Amount: Eu50m tier one capital

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.