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Lead arranger Nordea has signed banks into the Eu750m 364 day refinancing for Danish telco TeleDanmark (TDC). Citigroup/ SSSB and Danske Bank join Nordea in senior syndication. Also joining the deal are WestLB, Mizuho, ABN Amro, Barclays, SEB Merchant Banking, Bank of Tokyo-Mitsubishi, UBS Warburg, JP Morgan, Dresdner Kleinwort Wasserstein, Sumitomo, NyKredit and Commerzbank.

Guarantor: Deutsche Bank AG Rating: Aa3/AA-

GMAC Residential Funding Corporation (RFC) is expanding its structured finance activity into Europe for its latest securitisation, with a residential mortgage transaction from its Dutch subsidiary. Citigroup/SSSB is pre-marketing a Eu350m transaction for GMAC RFC Nederland BV. The group has been looking to enter the European market and this transaction is the first public evidence of that effort. The Dutch subsidiary began offering its mortgage products in May last year. Other recent investments include the acquisition of the German and French activities of mortgage broker Creditweb in February, through which the group hopes to learn about other European markets.

Rating: Aa2/AA- (Moody's/Fitch)

Barclays, Rabobank and Royal Bank of Scotland are arranging a $125m loan for ED&F Man. The three year deal carries a margin of 125bp over Libor and offers a 50bp commitment fee.

The EIB is due to launch a Huf10bn 10 year bond today (Friday) via Dresdner Kleinwort Wasserstein which will be fungible into euros from mid-2006 in the event that Hungary joins the Euro zone. "This euro-tributary issue has a step-down coupon and is very similar to the deals in the late 1990s in Italian lira and Greek drachma," said Sean Park, global head of debt syndicate at DrKW in London. He expects the deal to have a 9.75% coupon for the first four years and a 5.375% coupon for the remaining six years of its life.

The Eu150m five year club deal for BBB+ rated Enterprise-Rent-a-Car has been closed oversubscribed in syndication and banks will be signed into the deal early next week. Despite an increase to Eu200m, banks will still be scaled back.

Ernst & Young is strengthening its structured finance advisory services in Europe and the US, as it looks to expand its expertise in the field. The firm is bringing together a consolidated structured finance group in London to offer a one-stop shop to its clients. The group will consist of a project finance group, a transaction tax team and a capital markets tax team headed by partner Stephen Barrett.

Rating: Aaa/AAA Amount: C$100m

London & Continental Railways has successfully issued the last tranche of its government guaranteed funding for the Channel Tunnel Rail Link (CTRL) - a £1.1bn March 2051 transaction that has provided the sterling market with the largest deal at the ultra-long end of the curve. Proceeds of the issue, led jointly by Barclays and UBS Warburg, will be used to provide financing for the second section of the CTRL project and, subject to EU approval, to purchase Railtrack's interest in section one of the CTRL for a net figure of £350m.

Guarantor: Linde AG Rating: A3/A-