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Rating: Aa1/AAA Amount: $250m

The syndication of the £1.795bn of debt facilities for Tube Lines, will be closed on schedule today (Friday). The fact that no extensions have been granted suggest the lead banks are looking at decent subscription levels, despite the fact that they did not go out to as wide a group of banks as had been expected. The lead banks on the deal are HBOS, Mizuho, SG (bookrunner) and WestLB. In retail, banks have been invited 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 (bookrunner) will sign banks into the $50m facility for Union International de Banque (UIB) in Tunis on Thursday July 18. Arab Investment Company has joined the deal as a lead arranger for a take of $10m (for details of tickets and fees see EuroWeek 760).

Arrangers ABN Amro and Citigroup/SSSB (facility agent) will sign banks into the $75m 370 day club-style debut facility for Petrol Ofisi in Istanbul on July 22. Crédit Lyonnais, Crédit Agricole Indosuez, Deutsche Bank, Oyak Bank, BNP Paribas, HSBC, ING and Finansbanken have also joined the transaction.

Deutsche Bank is the sole arranger and dealer of a new EuroMTN programme signed by BHP Billiton, the Australian mining company. Four different branches of BHP Billiton have been named as issuers of the programme. KommuneKredit has increased the debt ceiling of its $2bn EuroMTN programme to $5bn. Eske Hansen, head of MTNs for the issuer, said: "We have decided to increase the programme's limit because we realise that a larger part of our funding in the coming years will be through the international capital markets rather than the domestic market which has been very important for us in the past."

Amount: £450m Rating: Fitch and Standard & Poor's

Amount: Eu40m Maturity: July 23, 2012

Rating: Baa1/BBB+ Amount: Eu600m

Rating: AAA/AAA Amount: Eu800m

As equity markets continued their inexorable slide this week and yet more accounting irregularities came to light, investors sought the safe haven of government bonds and top quality instruments in the credit markets. This trend was reflected in the blowout reception for the Province of Ontario's $750m 10 year transaction, which was three times oversubscribed and, despite being priced a fraction through Libor, tightened to 3bp-4bp through. The Province of Quebec also made an impressive entry into the dollar market with a $750m seven year bond, which was 2-1/2 times oversubscribed. Both transactions sold well internationally, far exceeding their typical 10% placement outside the US.