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  • The $50m, 364 day loan for Bank Finance and Credit, arranged by BayernLB and Standard Bank, is oversubscribed and will close shortly.
  • Building materials supplier Wolseley is thought to be a takeover target of sponsor Cinven — the cost of the buyout, if it goes ahead would be about £10bn. Goldman Sachs is thought to be advising Cinven on the transaction.
  • Syndication of independent brewer Marston's £400m loan via Barclays Capital and HSBC has closed. The facility will help finance the acquisition of Eldridge Pope and refinance an existing £275m facility.
  • UK telecommunications company Vodafone has mandated five banks to arrange a $3.5bn syndicated loan, which will back its purchase of a 67% controlling stake in Hutchison Essar, India's fourth biggest mobile phone operator, and thus give it a foothold in the world's fastest growing mobile phone market.
  • Mandated lead arrangers Standard Bank, Standard Chartered Bank and WestLB will launch an $81m loan for Lumwana in the coming weeks. The facility will be used for the development and construction of the Lumwana copper mine.
  • Danske Bankhas begun marketing a partially funded Eu4bn synthetic Danish RMBS transaction via Barclays Capital.
  • Two UK CMBS were priced this week, offering investors very different propositions.
  • Troubled reinsurer PXRE has deliberately defaulted on the $6.6m quarterly premium interest payment, due on February 8, on its $300m Western & Atlantic Re cat bond, in order to trigger early amortisation.
  • Moody's and Standard and Poor's are working on rating at least 20 proposals for new credit derivative product companies (CDPCs).