Search results for

Pimco Europe continues to expand its presence in the Nordic region, this week winning a mandate from the City of Oslo to manage a $220m fixed income portfolio for its employee pension fund. The tendering process started before Christmas and was managed by Wassum, the Scandinavian investment consultancy. In a step that is more common on the continent than in the UK, the City of Oslo opted for a unified fund structure domiciled in Luxembourg rather than running separate accounts. "It takes away the burden of book keeping and administration, and reduces the auditing to a single net asset value," said Peter Lindgren, Pimco's sales director for the Nordic region.

Polskie Sieci Elektroenergetyczne (PSE) has awarded the mandate to arrange its Eu170m five year facility. Citigroup/SSSB (bookrunner) and ING (facility agent) will lead the deal.

Rating: A1/A+ Amount: ¥100bn global bond (increased 26/04/02 from ¥80bn)

Crédit Mutuel-Credit Industriel et Commercial and Natexis Banques Populaires are arranging a $250m three year revolving credit facility for Pride Offshore, which is a fully owned subsidiary of Houston based Pride International. Nordea has joined the deal before retail, which will be launched next week.

Principal Life Global Funding I has increased the limit off its $3 billion global debt programme. The amount is increased to $4 billion.

Punch Taverns, the UK pub owner, set the price range on its £275m IPO this week, with investors trying to work out how to value the company against its major comparable, Enterprise Inns. The flotation will be structured as a purely primary offering, with Punch Taverns selling up to 100m shares at a range of 250p-300p to raise £250m-£300m. Of that, £154m is effectively a secondary sale as it will repay a loan from shareholders which would otherwise convert into equity.

The $450m five year facility for the State of Qatar has been closed and is due to be signed next week. The deal has received an oversubscription and will be increased to $550m.

Rating: Aaa/AAA/AAA Amount: R300m

Rating: Ba1/BBB/BBB- Amount: Eu400m

Rating: B2/B+/B Amount: Eu700m

The two Eu40m three year facilities for Romanian gas distributors Distigaz Nord and Distrigaz Sud have been closed and the deals are due to be signed next week. The slight delay in signing has been due to the public holidays in Romania.

Syndication for LUKoil's $300m 4-1/2 year facility is due to be closed next week when all the commitments are in. The deal has achieved an oversubscription and may be increased to $450m.