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HSBC Investment Bank is in the initial stages of launching syndication of the Ffr1.5477bn in senior debt facilities supporting the Ffr2.8bn buy-out of Holding de Restauration Concedée Elitair to form the leading concession catering business in France. Bercy, which operates the Elitair and Pomme de Pain food businesses, together with venture capital specialist Advent International are purchasing the HRC business from buy-out firm Charterhouse Development Capital and Accor. Bercy will own 51% of the new company, while Advent will hold 49%.

* Credit Suisse First Boston (London Branch) Rating: A2/A+

ICI LAUNCHED a $1.25bn Yankee bond this week which was the last major piece of the jigsaw in the financing of its $7.9bn acquisition of the specialty chemicals business of Unilever. The three tranche deal, lead managed by Goldman Sachs, rounds off an extraordinary six weeks of activity from ICI in the international bond markets, during which time it has raised $4.5bn.

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India Bank of Tokyo-Mitsubishi, Fuji Bank (Singapore) and Sakura Finance Asia have launched a $100m facility for Industrial Credit & Investment Corp of India.

* Inter-American Development Bank Rating: Aaa/AAA

Swiss francs * Aloka Co Ltd

THE KOREA Development Bank (KDB) confounded market expectations this week with its $1.5bn global bond, a deal which some bankers are hailing as the most important ever from Korea.

THE KOREA Development Bank (KDB) confounded market expectations this week with its $1.5bn global bond, a deal which some bankers are hailing as the most important ever from Korea. It followed a month in which widening and volatile spreads have thrown the Korean yield curve wildly out of kilter. The A1-/AA-rated bank set out on roadshows unsure that it would even be able to launch an issue against a backdrop of such extreme investor disillusionment with Korean credits.

THE SEPTEMBER flood of mainstream Eurodollar transactions failed to materialise this week. Investors remain cautious about US inflation figures and an earlier than anticipated rise in interest rates, and potential

DAIWA AND Robert Fleming have been jointly mandated to lead manage a domestic and international offering of stock in Kredyt Bank, one of the few privately owned banks in Poland. Unlike many of the country's banks, which have essentially been spun-off from the National Bank of Poland, Kredyt Bank -- which was founded in 1991 -- started from scratch to build up a comparatively aggressive loan business for consumers and businesses.