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  • Republic of Iceland has raised the ceiling off its $1 billion Euro-MTN programme to $1.5 billion. Five notes have been issued off the programme since it was signed in March 2001 and they are worth $702.69 million.
  • Pirelli&C Real Estate disappointed the Italian market when it priced its Eu370m IPO yesterday (Thursday) at the bottom of the range, securing a lacklustre 1.2 times oversubscription level.
  • Pirelli&C Real Estate disappointed the Italian market when it priced its Eu370m IPO yesterday (Thursday) at the bottom of the range, securing a lacklustre 1.2 times oversubscription level.
  • Anglo Irish is in the market with a Eu500m facility via Danske Bank, RBS and WestLB. More details will be released soon.
  • Citigroup/SSSB has cast Fiat a Eu1.15bn credit line. The bank has agreed to the three year facility to allow the auto company some headroom as it sorts out its capital structure.
  • Arranger Mizuho Corporate Bank has completed the ¥20bn five year term loan for Tobu Railway. Some 27 banks joined the facility, including Bank of Tokyo Mitsubishi, Chuo-Mitsui Trust and Banking Co, Mitsubishi Trust and Banking Co, Sumitomo Trust and Banking, Ashikaga Bank, Dai-Ichi Mutual Life Insurance, Gunma Bank, Norinchukin Bank, Joyo Bank and Chiba Bank.
  • John Deere has upped the debt capacity off its $1 billion Euro-MTN programme to $3 billion. Credit Agricole Indosuez has been dropped as a dealer and Tokyo-Mitsubishi and UBS Warburg have been added to the dealer panel. The programme has $754.39 million-worth outstanding off six trades.
  • Amount: $144m, S$45m Legal maturity: June 26, 2007
  • Amount: Eu460.6m Rating: Fitch and Standard & Poor's
  • Rating: Aaa/AA+/AA+ Amount: $150m (fungible with $1.25bn issue launched 15/05/02)
  • BNP Paribas, Deutsche Bank and UBS Warburg have launched the Eu2.4bn acquisition facility backing Kingfisher's acquisition of France's Castorama into a limited syndication. The deal is split into two tranches. There is a Eu1.6bn three year term loan which carries an initial margin of 75bp over Euribor and an Eu800m one year revolver with an extension offer after year one and again in year two. That piece offers a margin of between 55bp and 85bp over Euibor depending on the company's gearing.