Search results for

Afreximbank (The African Export-Import Bank) has mandated Citibank/SSSB, KBC Bank, Natexis Banques Populaires, RZB, Standard Chartered (bookrunner), WGZ Bank and WestLB (bookrunner) to arrange a $100m 364 day term loan, with an option for lenders to extend up to 50% of their commitment for another 270 days.

Chad Syndication of the $500m of export credit and IFC elements of the $4bn Chad Cameroon pipeline project should be wrapped up today (Friday) with the arrangers - ABN Amro (documentation, modelling and technical bank, US Ex-Im agent and joint bookrunner), Crédit Agricole Indosuez (Coface agent) and the IFC (joint bookrunner) - confident of a full book within the set timetable.

Allied Domecq has increased the level off its global MTN programme from $2 billion to $3 billion. Allied Domecq (Holdings) and Allied Domecq North American Group were added as issuers. The programme has so far issued just one note - a seven-year DM500 million ($228 million) trade in December 1998. Goldman Sachs arranged the facility.

There has been a spate of potential Russian issuers advertising their hopes of tapping the market this year, with one of them, diamond production and sales monopolist Alrosa, holding a preliminary roadshow in New York and London earlier this month. Alfabank acted as Alrosa's agent for a series of meetings with the major investment banks, as well as some commercial banks and funds interested in Russian credit.

India The $75m three year fundraiser for Indian Oil Corp, arranged by ABN Amro, Citibank and Sumitomo Bank, has been closed. The deal was oversubscribed but not increased.

Asia * Compass Master Trust Series 2001-1

Australia Arrangers Citigroup Australia and National Australia Bank have closed the A$300m 364 day term loan for One Steel Finance. The borrower is the steel division of Broken Hill Proprietary Co, Australia's largest resource enterprise.

Autologic, the UK car logistics and services group, announced its intention to raise £51m (Eu82m) via a 13m new share rights issue this week. The announcement came on the back of Autologic's results for 2000, which caused a 4.5 % jump in its share price on Tuesday. The issue will be priced at 400p per share, offering a discount of more than 20% to its current trading price of 502p. The shares will start trading on the London Stock Exchange on April 17.

Arrangers Deutsche Bank and Standard Bank have signed banks into the R700m equivalent ($86m) mining project financing for Avgold Limited, South Africa’s fourth largest gold company.

The bond market is preparing to absorb more jumbo issuance from telecoms companies in the coming fortnight, with KPN and Telecom Italia poised to launch Eu2bn and Eu5bn issues respectively. KPN's transaction, to be priced next week by ABN Amro, Barclays and CSFB, is expected to include a five year tranche priced at mid-swaps plus 245bp-255bp and a 10 year at 275bp-285bp, in line with the Dutch telco's default swap levels.

"Allianz to buy Dresdner Bank?" We were dining quietly in Chelsea with a group of bankers when everyone's mobile started to shrill at the same time. Thank heavens that foie gras can't go cold. Our first reaction was that this deal does not win any brownie points for originality. Allianz already owns more than 20% of Dresdner and lots more through cross-shareholdings. Allianz has tried to find a solution for Dresdner through attempted mergers with Deutsche and Commerzbank and failed on both occasions. Now Allianz looks as if it may take Dresdner for itself. There is some logic in this strategy. Dresdner is a much better bank than it was two years ago but it needs a push to propel it into the premier division. With Allianz's financial muscle, Dresdner could become the European answer to Citigroup. In investment banking Allianz-Dresdner could clean up in Germany thanks to Allianz's stranglehold on German industry. At once Dresdner would become the most powerful bank in Germany. We suspect that our friends at Deutsche will be holding emergency meetings this weekend.