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Banks have been given an extension from today's (Friday) original deadline until next Tuesday to submit bids for the arranging mandate for the Eu2.35bn financing of Saudi Basic Industries Corporation's (Sabic) acquisition of Dutch specialty chemicals company DPC from DSM. Despite the loss of a weekend, the delay will come as a relief to bankers struggling to get to grips with the transaction. "I can't remember the last time the market got itself into such a flap over a deal," said one banker who is bidding on the transaction. "There is wildly ranging talk on pricing, approaches to the structure and syndication strategies. People are finding it very hard to work this one out."

The $250m five year facility for Arab Petroleum Investment Corp (Apicorp) was this week launched into the market. Arrangers for the deal are Crédit Agricole Indosuez, Gulf International Bank, HSBC, Sumitomo and Riyad Bank.

The issuer BPC Finance has set up a note issuance programme for the issuance of secured notes. Debt up to the limit of $2.5 billion can be raised off the programme. The arranger of the programme is TVT Holdings. The notes will be listed on the Luxembourg Stock Exchange or by the Financial Services Authority Official List. Notes may also be unlisted. The Trustee for the note holders will be Bermuda Trust (Far East) and the issue agent is The Bank of Bermuda.

Standard&Poor's has placed Svensk Exportkredit (SEK), one of the Euro-MTN market's most active private-placement issuers, on a negative outlook. The change in outlook follows the news that ABB Group (ABB Asea Brown Boveri) is due to sell its stake in SEK. This is likely to push increased challenges onto SEK as it tries to maintain its low-risk profile. The ratings of SEK will continue to be based on the recently reconfirmed support of, and majority ownership by, the Swedish state. SEK is mainly active in yen, but has tapped nine other currencies so far in 2002. It has issued 120 trades so far this year for $1.7 billion.

Arranger Sumitomo Mitsui Banking Corp has launched to sub-underwriting a S$150m five year term loan for Keppel Land. The borrower is one of the largest property groups listed on the Singapore Exchange.

Anglo American has put in a $1.3bn offer for Chilean copper mine Minera Disputada de Las Condes. Bankers have said that the conglomerate has not yet approached the loan market for a new deal, although managers at relationship banks have been eagerly offering funding options.

The Eu40m five year facility for Banka Celje has been launched into general syndication. Bank Austria and BayernLB are joint arrangers for the deal.

EuroWeek understands that telecommunications company Airtel Movil is looking to refinance a Pta230.25bn five year facility that was signed in May 2000. The new deal is thought to be a fully underwritten Eu1.38bn loan arranged by BSCH, Citigroup/ SSSB, Commerzbank and HSBC.

Citigroup/SSSB, CSFB and Barc-lays Capital signed banks into ABB's $3bn revolver yesterday (Thursday). Funding will take place on April 30 and a bank list will be released next week.

Supporting the Eu400m facility for the City of Götenborg before it was launched to retail are co-arrangers Svenska Handelsbanken, SEB, Depfa and ABN Amro. EuroWeek understands that those banks joined the seven year multi-currency revolver taking Eu40m for 5bp.

The Industrial Bank of Taiwan has won the mandate to arrange a NT$1bn three year facility for Askey Computer, a producer of integrated computer communications products. The facility will be divided into a revolving credit portion and a note issuance facility.