Search results for

Rating: Aa2/A/AA-

Romanian electricity company Termoelectrica is readying itself to return to the syndicated loan market to secure a facility in excess of $200m with a tenor of five years. This facility will carry the longest tenor the borrower has ever sought. Termoelectrica is understood to be preparing its requests for proposals (RFPs) which will be sent out in the next 10 days once sign off has been given by the finance ministry of Romania.

Rating: AA-/AA Amount: Nkr500m

Joint mandated arrangers RZB (bookrunner) and ZAO Raiffeisenbank Austria (facility agent) have signed banks into the $20m 364 day term loan for Ural-Siberian Bank (formerly BashCreditBank). The deal was oversubscribed and increased on signing to $33m. Dresdner Kleinwort Wasserstein joined as an arranger for a take of $5m. American Express Bank, Commerzbank and ING joined as arrangers for takes of $4m. Bankgesellschaft Berlin joined as a co-arranger for a take of $3m and Moscow Narodny Bank as lead manager for a ticket of $2m. Adria Bank, DZ Bank and The Export-Import Bank of the Republic of China joined as manager for takes of $1m each.

Rating: A1/A+ Amount: Eu200m (increased from Eu150m, fungible with two issue totalling Eu350m first launched 17/05/02)

Arrangers Dresdner Kleinwort Wasserstein and Lehman Brothers have released the list of institutions which were signed into the Eu2bn facility backing the merger of South African Breweries with Miller Brewing of the US, which used to be owned by Philip Morris. The new company is called SABMiller. SunTrust committed Eu75m, Fortis Bank, Rabobank, WestLB, Lloyds, Royal Bank of Scotland, ABN Amro, Barclays, National Australia Bank, Scotia, Banc One, Bank of Scotland and Fleet Boston Financial all joined taking Eu65m. Standard Bank, HVB and Allied Irish Bank took Eu60m each. BAWAG committed Eu45m. CDC IXIS, Nedcor Trading Services, Ansbacher, Bank of America, Citigroup/ SSSB, ING, Natexis Banques Populaires, PB Capital, TD Securities and United Overseas Bank committed Eu40m.

Rating: BBB+ Amount: £50m (fungible with £200m issue launched 22/07/02)

Sole mandated arranger Bank of Tokyo-Mitsubishi will launch the Eu75m five year facility for Slovenske Elektrarne into syndication in the next two weeks. The deal has been slightly delayed while the borrower finalises its interim auditing figures. The deal pays a margin of 150bp over Libor. A number of reverse inquiries have already been received.

Mandated arranger RZB will launch the Eu60m five year bullet term loan for Vseobecna Uverova banka (VUB) into senior syndication in the next two weeks. The loan is extendable by two years at the arranger's discretion. The facility pays a margin of 37.5bp over Libor. The proceeds will be used for general corporate purposes. VUB was founded in 1990 and is rated Ba1 by Moody's, BB- by Standard & Poor's and BB+ by Fitch. Mandated arrangers Bank Austria, Citigroup/SSSB, Sumitomo (bookrunner) and WestLB have launched the Eu50m five year facility for Slovenia Export Corporation (SID) into syndication and commitments are due by September 12. The deal pays a margin of 25bp over Libor for years one and two and 27.5bp over Libor for years three to five.

Rating: A Amount: Eu700m Öffentlicher Pfandbrief series 306

Rating: Aaa/AAA/AAA Amount: £150m (fungible with £350m issue launched 04/03/02)

Although Absa was expected to tap the international loan market in the second half, bankers close to the borrower say it has opted to wait until next year. Absa is a familiar name to the loan market and most recently secured a Eu300m club deal in March 2002. The bullet term loan offered a margin of 30bp over Libor.