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The deadline for bids to arrange the Eu130m seven year facility for the City of Budapest was July 30. The borrower is expected to announce the successful bidding group in the next two weeks. The facility carries a margin of 25bp-30bp over Euribor. A banker told EuroWeek that due to a shortage of credits of this type in the market competition for the mandate has been intense.

Sole mandated arranger RBS is in the market with a Eu133m wind-power financing for Edens SpA - a wholly owned subsidiary of Edison. The 14 year transaction pays an initial margin of 100bp over Euribor, rising to 120bp over the deal's term. Banks have been offered a single ticket of Eu20m for 60bp in fees.

Co-ordinating arranger JP Morgan has closed the ¥8.75bn leverage LBO facility for Tower Records KK. JP Morgan held ¥830m. Lead arrangers are ING pledging ¥930m and Aozora Bank, Bank One, Bayerische HypoVereinsbank, United Overseas Bank and WestLB contributing ¥830m apiece.

Mandated arranger Citigroup/SSB has closed senior syndication of the $75m three year facility for JSC Kazakhmys. The deal has been well received and was 60% oversubscribed. Deutsche Bank, SG, ING, Natexis Banques Populaires, KBC and Crédit Lyonnais all joined during senior syndication. Two further banks are understood to be joining in general syndication before the deal is signed on August 12. The deal pays a margin of 350bp over Libor for the first 18 months, rising to 375bp over Libor thereafter. Co-arrangers have been offered takes of $20m for a fee of 75bp.

Rating: AAA (Fitch) Amount: Eu100m Landesschatzanweisung series 140

Rating: Aaa/AAA/AAA Amount: A$50m (fungible with two issues totalling A$150m first launched 06/12/01)

Rating: Aa1 Amount: Eu50m Kassenobligation no 2307

Joint arrangers and bookrunners Barclays Capital, Citigroup/SSSB, Lloyds (facility agent) and Royal Bank of Scotland have signed banks into the £1.2bn loan for Land Securities. SMBC, WestLB, Commerzbank, Danske Bank and Nationwide Building Society have committed as co-arrangers.

Mandated arrangers BNP Paribas, Crédit Lyonnais, Citigroup/SSSB, MedioCredito and WestLB will close sub-underwriting of the syndication of $800m of international debt facilities for the $1bn Nigeria LNG project today (Friday). The market's response to the deal has been very strong, with targets exceeded at this stage. Consequently the debt to be raised in general syndication has been substantially reduced. The retail phase is scheduled to get under way in early September.

Arrangers Danske Bank, HSBC and SEB launched the $500m five year bullet facility for Swedish engineering group Sandvik into syndication this week. A bank presentation will be held on August 12 and commitments are due by August 23. The facility includes a Skr1bn swingline facility. Proceeds will be used for corporate purposes. The borrower last tapped the market in June 1997 with a $650m seven year bullet facility arranged by Citigroup/SSSB and Handelsbanken Markets. That deal paid a margin of 15bp over Libor in years one to five and 17.5bp over Libor for years six and seven.