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Mandated lead arrangers HBOS, Mizuho, SG (bookrunner) and WestLB have closed general syndication of the £1.795bn of debt facilities for Tube Lines. The deal attracted an oversubscription from the market. Banks were offered invitations to join at three levels: co-arrangers taking £50m or more for fees of 70bp; lead managers taking £35m for 55bp in fees; and managers with £20m for 37.5bp.

Mandated arrangers ABC (facility agent) and Citigroup/SSB signed banks into the $50m facility for Union International de Banque (UIB) yesterday in Tunis. The deal was oversubscribed but not increased. Arab Investment Company has joined as a lead arranger for a take of $10m. UniCredito, BW Bank, Mashreq Bank, Tunis International Bank (TIB), Union Tunisienne de Banque and British Arab Commercial Bank also joined the deal. Three tickets were on offer: arranger for takes of $7.5m for 55bp; co-arranger for $5m for 45bp; and manager for $2.5m for 35bp. The loan carries a margin of 75bp over Libor.

Export Credit Bank of Turkey (Turk Exim) is close to awarding the mandate to arrange its $120m 364 day refinancing. A conference call was held yesterday (Thursday) between the borrower and the bidding banks to finalise arrangements and a mandate is expected to be announced by Friday July 26.

Bond prices in the auto sector received a much welcomed relief from months of battering this week when all three of the biggest car manufacturers announced second quarter profits. In what is an increasingly rare injection of good news into the dollar markets, Daimler Chrysler posted a better than expected second quarter adjusted operating profit, General Motors a near tripling of its earnings in the second quarter and even Ford achieved its first quarterly profit in a year.

Bond prices in the auto sector received a much welcomed relief from months of battering this week when all three of the biggest car manufacturers announced second quarter profits. In what is an increasingly rare injection of good news into the dollar markets, Daimler Chrysler posted a better than expected second quarter adjusted operating profit, General Motors a near tripling of its earnings in the second quarter and even Ford achieved its first quarterly profit in a year.

Amount: Eu1.4bn Rating: Aaa/AAA/AAA

The equity markets reached lows not seen since 1997-1998 this week, the euro reached dollar parity for the first time in two years and the dollar fell to levels not seen since early 2000. The result: more cancelled deals, an extremely thin pipeline and a concentration on high grade credit.

Sotogrande, Spain. Contrary to popular opinion, we are coming home soon. We ourselves would be quite happy to stay at home in leafy Berkshire, but it is the girls in the family who believe that anyone who takes a summer vacation of less than six weeks is a wimp and a killjoy. But what a time to be away, clocking the polka dot bikinis at the Cucuruccho Beach Club and trying to remember what a cloud looks like. Markets have been truly awful and rarely have we received so many miserable telephone calls from our friends. Investment banking has closed down and the chickens have come home to roost. For those corporate financiers, what does it feel like to be an unemployed Master of the Universe? Many may soon know the feeling.

Rating: A1/A- Amount: Eu100m Öffentlicher Pfandbrief series

Barclays, Deustche Bank and Royal Bank of Scotland are waiting for commitments from three more banks before closing the books for William Hill's £660m senior debt facility. The deal is split into two tranches: a £450m five year bullet revolver and a £210m 4-1/2 year amortising term loan.

Barclays, Deustche Bank and Royal Bank of Scotland are waiting for commitments from three more banks before closing the books for William Hill's £660m senior debt facility. The deal is split into two tranches: a £450m five year bullet revolver and a £210m 4-1/2 year amortising term loan.