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Rating: A3/A- Amount: £250m lower tier two capital

The Federal State of North Rhine-Westphalia came to the EuroMTN market with a Eu10bn debt issuance programme this Wednesday, jointly arranged by Citigroup/SSSB and WestLB. The borrower is hoping that the facility will help it to take advantage of the pending removal of the German Landesbanks' state guarantees. "We have been thinking of signing this programme for some time," said Eckard Helmz, treasurer at NRW. "But we now believe that the time is right. The Landesbanks play an important role in the Asian markets and are very active issuers there, but they will find it tougher to issue without their state guarantees. I feel that there is now room for us in that market."

Guarantor: Parmalat SpA Rating: BBB-

Parmalat revised its plans to tap the bond markets this week, launching a Eu150m two year issue rather than its planned Eu500m five year bond, showing that although sentiment towards corporates has improved, conditions remain difficult for those borrowers hoping to access the market. The company had originally hoped to launch the larger and longer dated deal via Citigroup/SSSB, Credit Suisse First Boston and Unicredit Banca Mobiliare (UBM) at the end of September. That issue was first talked at 180bp over mid-swaps, but was widened to 230bp-235bp before the triple-B rated Italian food producer felt the market had become too expensive. The company had also considered tapping an outstanding 2007 bond.

Amount: A$750m Rating: Moody's/S&P

Rating: Aa3/AA Amount: $250m (fungible with $500m issue launched 09/09/02)

The sponsors of the Qatar Gas-to-Liquids project have played safe by appointed a large group of mandated arrangers for the $700m financing. EuroWeek understands that 14 banks have been selected at this level - ABC, Apicorp, BNP Paribas, Bank of Tokyo-Mitsubishi, Crédit Agricole Indosuez (bookrunner), Crédit Lyonnais, Gulf International Bank, HSBC, HVB Group, KBC, Mizuho, Qatar National Bank, RBS and SMBC.

Rating: Aa2/AA Amount: Eu30m

Amount: Eu600m Legal maturity: July 15, 2015

Rating: AA Amount: Eu130m (fungible with Eu413.17m issue launched 17/05/01)

At a bank meeting held in London yesterday (Thursday) banks were invited by 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, to join a £1bn loan for RMC Group plc. Tickets on offer in syndication are £30m for 22.5bp, £20m for 17.5bp and £10m for 12.5bp.

Mandated arranger Standard Bank has closed syndication of the $30m one year term loan for Nomos Bank. The credit has been oversubscribed by $18m, and the borrower has not yet decided if it will accept the increase. Signing is planned for the next two weeks. The credit pays a margin of 390bp over Libor.