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Arnon Ikan, senior director for foreign currency transactions, accountant general's office, ministry of finance

For Borrowers 2001, EuroWeek interviewed representatives of 15 issuers with public sector missions to create this definitive survey of the challenges facing such borrowers today. In his foreword below, Gumersindo Oliveros, director, treasury finance department, at the World Bank shares his views on how the market has developed over the past year.

The publication of this supplement was planned in conjunction with the annual meetings of the World Bank and the IMF. The meetings were cancelled in light of the tragic events in the US. Please note that many of the interviews included in this supplement were conducted before September 11.

Werner Taiber, global co-head of primary markets, WestLB Global Financial Markets

Juanito Limandibrata, assistant treasurer, head of funding division

Daniel Gleizer, director, international affairs, Central Bank of Brazil

Bart van Dooren, head of capital markets

Louise Herrle, vice president and treasurer

Stephen Abrahams, chief, capital markets division

The global funding team, international finance department

Allegiance Telecom drew down $350 million of its $500 million credit facility on Sept. 13, hoping to cash in on favorable rates. Thomas Lord, cfo and executive v.p., explained that the company determined interest rates were at their best in 20 years. The drawdown just happened to coincide with the World Trade Center attack on Sept. 11, but the transaction managed to go through two days later.

Citicorp and Salomon Smith Barney have placed on hold the proposed $175 million credit facility for Amtran, the parent company of American/Trans Air, as credit officers within banks nervously eye their loan exposures to the airline industry. Kim Wick, manager of investor relations at Amtran, said that last Wednesday the banks sent a letter to Amtran requesting information regarding the business condition, operations and properties of the Indianapolis-based company. American Trans Air flies mostly in the U.S.