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  • Rating: Aaa/AAA Amount: $500m
  • Redemption per Eu10,000 will be determined as follows:
  • Mandated arrangers Danske Bank, HSBC and SEB Merchant Banking are collecting commitments from banks joining the $500m five year facility for Swedish engineering group Sandvik. Syndication will be closed today (Friday).
  • Rating: Aa2/AA+ Amount: A$100m
  • Cable and communications company Telewest yesterday (Thursday) confirmed that it had secured a waiver on its £2.25bn credit facility. The waiver clears the way for Telewest to start balance sheet restructuring with its creditors and bondholders.
  • Shinkong Synthetic Fibers has awarded a mandate to Bank of Taiwan, Chiao Tung Bank, Chinatrust Commercial Bank and Hua Nan Commercial Bank to arrange a NT$5.12bn dual tranche facility. The facility is divided between a NT$3.5bn five year term loan paying a margin of 250bp over the average prime rate of the co-ordinating arrangers and a NT$1.62bn five year NIF guarantee facility paying a guarantee fee of 90bp. Fees to the market will be set at three levels and are currently being finalised.
  • ABN Amro has closed the $100m dual tranche fundraising for Thai Military Bank. The deal was oversubscribed and increased to $100m from the original target of $80m. The arranger held $15m. Co-arrangers include Banca Nazionale del Lavoro (Singapore) and BLB Asia Pacific pledging $15m apiece, LB Kiel taking $12m and Natexis Banques Populaires (Singapore) committing $10m.
  • Guarantor: TotalFinaElf SA Rating: Aa2/AA
  • The $80m 364 day facility for Export Credit Bank of Turkey (Turk Eximbank) has been well received and is oversubscribed. All commitments are due by next week. Mandated arrangers are ABN Amro (bookrunners), Bank of Tokyo-Mitsubishi (bookrunner), BayernLB (facility agent), Commerzbank, Crédit Lyonnais, HVB Group (documentation), Natexis Banques Populaires and WestLB (documentation). The deal carries a margin of 135bp over Libor.