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Buyout firm Permira is planning to take BorsodChem private if its takeover bid is successful. The Hungarian chemical group received details of a takeover offer in the first week of July that stated the Permira subsidiary Kikkolux was offering to acquire BorsodChem at a price of Huf3,000 per share, valuing the company at Huf228.5bn or $1.05bn. Kikkolux has secured the option to acquire about 52% of the company from key shareholders — Austrian buy-out firm Vienna Capital Partners and Firthlion, an investment vehicle for Russian entrepreneur Megdet Rahimkulov.

Polish Oil and Gas Company, or PGNiG, said yesterday (Thursday) that it plans to raise a Eu600m revolving credit facility as part of a debt restructuring programme. Bankers say the deal will be an interesting test of the borrower's relationship pull.

Guarantor: Piraeus Bank SA

A flurry of swap-driven bond issues, launched before the summer lull takes hold, narrowed dollar swap spreads this week.

Guarantor: QBE Insurance Group Limited

Royal Bank of Scotland issued an interesting self-led dual range accrual Eu200m five year bullet bond this week. "It's really unusual," one banker said. "There have been many dollar dual range accrual deals which reference the 10 year and two year CMS rate, and dollar Euribor for example, but very seldom euro deals."

Rating: Aa2/AA-/AA

Rating: Ba3/BB-/BB-

Citigroup and Goldman Sachs will close the £550m loan for insurer Resolution next week. The facility is split into a £350m term loan and a £200m revolver, both with a tenor of three years. Tickets of £50m and £100m are available. The loan will part fund its acquisition of the closed life funds of UK bank Abbey.

Rosneft, the Russian state oil company, completed the largest ever listing on the London Stock Exchange this week, raising $10.42bn with comfortable oversubscription, despite the intense controversy that has dogged the deal.

Bookrunners International Moscow Bank and Vneshtorgbank have signed a Rb536m 12 month loan for BIN Bank.

Rating: A3/A-/A+