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Citigroup/SSB, Commerzbank and Dresdner Kleinwort Wasserstein are preparing an information memorandum for steel company Iscor's $150m three year term loan. The loan should be launched into general syndication within the next 10 days. EuroWeek understands that the loan will carry a margin of between 70bp and 80bp over Libor.

EuroWeek understands that Telekom Slovenije is close to announcing the mandate for a Eu100m five year facility. Six banks have been invited to bid and an award is expected next week. The facility will carry a guarantee from the EIB. More details will be available next week.

Arrangers of the Eu400m seven year multi-currency facility for the Aa2/AA rated City of Göteborg are waiting for one last bank to join the deal before closing the books today (Friday). Signing is scheduled for June.

Sponsor ESB is due to announce the arranging mandate for its BBE combined cycle gas turbine power project imminently. Banks understood to be close to the mandate include ABN Amro, BNP Paribas and Royal Bank of Scotland. The Eu500m project is likely to have a tenor of between 12 and 15 years.

Although ABB's Eu3bn revolver broke free to trade in the secondary market on April 28, the market has seen little movement of paper. According to a trader in London, the gap between low bids and sellers offering at par continues to block liquidity in secondary syndication. ABB's Eu3bn revolver was this week successfully reduced when it issued a Eu968m convertible five year bond led by Barclays, Citigroup/SSSB and CSFB. The convertible was 10 times oversubscribed and news of the successful issue strengthened ABB's share price. (See Equities section for details.)

The NT$1.5bn 3-1/2 year credit for Mercury & Associates Co, arranged by ABN Amro (Taipei), has been closed oversubscribed and increased from NT$1.2bn. The arranger held NT$100m. Participants are First Commercial Bank, Hua Nan Commercial Bank, Kaohsiung Bank, Sunny Bank, Taiwan Business Bank and Taiwan Co-operative Bank pledging NT$180m apiece, Asia Pacific Bank and Taishin International Bank contributing NT$100m each, Cathay United Bank absorbing NT$80m, and Hsinchu International Bank taking NT$40m.

TDC has added Schroder Salomon Smith Barney (SSSB) as a dealer to its $3 billion Euro-MTN shelf. SSSB was joint-bookrunner off a 10-year euro750 million ($679.75 million) note for TDC last month.

The issuer name on Telenor CommunicationsÆs $500 million Euro-CP facility has been shortened to Telenor. Goldman Sachs and UBS Warburg have been dropped as dealers, while Deutsche Bank and JPMorgan have been added.

The Federal State of Saxony-Anhalt has completed a euro600 million ($543.80 million) zero coupon treasury notes CP programme. Goldman Sachs arranged the programme, which replaces the issuerÆs euro600 million zero notes programme signed in 1997. Saxony-Anhalt is the only German state that has a Euro-CP programme. It intends to finance some of its floating rate liabilities via the CP facility. The programme is rated P-1 by MoodyÆs and A-1 by Standard & PoorÆs. The dealers are Barclays Capital, Citibank, Commerzbank, Deutsche Bank, Dresdner Bank, Goldman Sachs, Mizuho, Morgan Stanley, UBS Warburg and WestLB. The issuer also has a euro6 billion debt issuance programme, signed in 1998, with $364.95 million outstanding off seven trades. Only one other German state has a Euro-MTN platform: Land Schleswig Holstein. It set up its euro3 billion debt issuance programme in 1999. There are 16 German states in total, which gives scope for more names to join the Euro-CP and Euro-MTN markets.

Rating: Aaa/AAA/AAA Amount: C$50m (fungible with the C$100m issue launched 14/12/01) obligations foncières

Rating: Aa3/AA+ Amount: £50m (fungible with the £150m issue launched 03/08/01)

Guarantor: Deutsche Bahn AG Rating: Aa1/AA