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Bank of America, Deutsche Bank, JP Morgan, Lehman Brothers and Wachovia have been mandated to arrange the debt facilities backing the world's second largest ever leveraged buy-out - the $7.05bn LBO of QwestDex from Denver-based communications company Qwest by Carlyle Group and Welsh, Carson, Anderson & Stowe. QwestDex is Qwest's directories business.

Rating: Aaa/AAA/AAA Amount: $500m

Mandated arrangers RZB and ZAO Raiffeisenbank Austria will sign banks into the $20m 364 day facility for Ural-Siberian Bank (formerly BashCreditBank) today (Friday). The facility has been oversubscribed and will be increased to $25m-$30m.

Rating: A1/A+ Amount: Eu100m (fungible with Eu500m issue launched 21/05/02)

Banks are bidding on the proposed $650m refinancing for Sadaf, the joint venture between Shell and Saudi Arabian Basic Industries Corporation (Sabic). The new deal refinances two project financings used to develop and then expand styrene production facilities and a cogeneration unit.

Rating: AA+ Amount: Sfr250m

With only four months left in 2002, lending banks are running out of time to meet budgets for the year. With volumes in the European loan market heavily down on last year, some banks are hoping that the Eu16bn of leveraged loans to be syndicated in September will provide a buying opportunity when that debt hits the secondary loan market. Banks which do not have the resources to buy big pro rata tickets of leveraged loans offered in primary syndication, will have the opportunity to buy small pieces of the high yielding assets in the secondary market to help fill gaps in their budgets.

Amount: A$400m Legal maturity: September 18, 2028

Mandated arranger Bank of Tokyo-Mitsubishi has signed banks into the $150m multi-tranche facility for the Central Bank of the Republic of Seychelles. Barclays Bank and Standard Chartered have joined as lead arrangers. Belgolaise Bank and Mauritius Commercial Bank have joined as arrangers and Nouvobanq as a co-arranger. Alpha Bank has joined as a lead manager and African Export-Import Bank as a manager. Co-managers are Banque Inter-nationale des Mascareignes, Banque Misr and Habib Allied International Bank.

EuroWeek hears that the UK Ministry of Defence's £1.6bn Skynet 5 satellite communications project will be financed by a £1.05bn credit facility. BNP Paribas, CIBC World Markets and HSBC, which were considering a wrapped bond financing, have instead opted to arrange a bank loan.

The first mandate from a Slovakian financial institution since 1999 was awarded this week. EuroWeek understands that Vseobecna Uverova Banka (VUB) has awarded the mandate to arrange its Eu50m-Eu60m five year facility to Raiffeisen Zentralbank Oesterreich (RZB) which will be sole mandated arranger for the facility - the bank's first for six years.

Sole mandated arranger Sumitomo will close syndication of the Eu97m five year facility for Slovak Telekom at the end of August. The deal has been well received and an oversubscription is expected. The facility carries an EIB guarantee and pays a margin of 85bp over Libor. Two levels of participation are on offer: lead arranger for a take of Eu15m for a ticket of 75bp; and arranger for a ticket of Eu10m for a fee of 65bp.