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  • The mandate to arrange the $300m five year facility for Arab Banking Corporation (ABC) has been awarded and the deal will be launched into syndication next week. Arrangers are ING, Bank of Tokyo-Mitsubishi (facility, documentation), BNP Paribas (international bookrunner), HSBC (international bookrunner), National Bank of Kuwait (regional bookrunner) and National Bank of Abu Dhabi (information memorandum).
  • Guarantor: Baloise-Holding Amount: Sfr175m
  • Rating: Aaa/AAA/AAA Amount: Nkr400m
  • Rating: Aaa/AAA/AAA Amount: Eu505m
  • Bank of Ireland announced yesterday (Thursday) the acquisition of 61% of Iridian Asset Management, the US institutional fund manager. The $198m acquisition will strengthen Bank of Ireland's position in US equities, adding $11bn to its existing $52bn of assets under management.
  • WestLB is among the list of victims of what may turn out to be the largest bank fraud ever perpetrated, according to statements by the FBI and the bank. Dresdner, JP Morgan, KBC and HypoVereinsbank were also among the banks that allegedly lent money to a family metal trading empire which has since collapsed. As the companies involved found themselves unable to pay their creditors, they appear to have entered into an elaborate scheme of deception to fabricate customer accounts.
  • Rating: Aaa/AAA Amount: Sfr200m
  • Rating: Aaa/AAA Amount: Nkr400m
  • Guarantor: Banca Comercial Portugues SA Rating: A1/A-
  • HVB yesterday hired Inderjit Bedi as head of global convertibles research, as part of an effort to build a new equity-linked business. Bedi headed up convertibles research at BNP Paribas for six years until his departure in early March. He joins a rapidly growing team at HVB which is trying to break into a highly profitable but competitive market.
  • SG has launched the Eu200m four year term loan for real estate investment trust Befimmo into a limited general syndication. Banks have been asked to commit Eu15m for 15bp and Eu10m for 10bp.