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European Metal Recycling's £190m five year facility via Fortis Bank, HSBC and Lloyds is in documentation oversubscribed. The loan is split between a £75m revolver and a £115m amortising term facility, both of which pay an out of the box margin of 87.5bp.

Bank of Scotland is preparing to launch the debt supporting Candover's acquisition of Eurotaxglass's. The debt will comprise Eu257.5m of senior debt, a Eu22.5m 9-1/2 year bullet second lien facility that pays 5.25% and a Eu75m 10 year bullet mezzanine facility that yields 4.25% cash and 4.25% rolled-up.

Barclays has won the mandate to arrange the debt backing 3i's acquisition of Mayborn, a manufacturer of baby and household products. The transaction has an enterprise value of £137m. Mayborn's brands include Tommy Tippee and Dylon clothing dyes.

The loan supporting Uberior Investments' buy-out of bar-operator Inventive Leisure is in the market via Bank of Scotland. The debt comprises a £13.5m seven year term loan 'A' that pays 225bp, a £13.5m eight year term loan 'B' that yields 275bp, a £5m nine year mezzanine facility that pays 4% cash and redemprion premiums, a £1.5m seven year revolver that pays 250bp and a £12.5m seven year capex loan that yields 250bp.

The general syndication phase of the £1.82bn loan supporting Nippon Sheet Glass' takeover of UK glass company Pilkington will close next week. Around 20 banks are being targeted with tickets of £50m and £25m Twenty banks, including mandated lead arrangers Sumitomo Mitsui Banking Corp and UBS, joined the deal during sub-underwriting phase. The loan was flexed from its original margin of 125bp to 110bp.

HMV, owners of Waterstone's, has been given the go-ahead to pursue its acquisition of book retailer Ottakar's. The Competition Commission formally cleared the acquisition and declared that the deal "would not lead to a substantial lessening of competition in the market for the retail sale of new books to consumers, in any part of the UK."

Prominvestbank's $25m one year loan will be closed shortly by mandated lead arrangers Deutsche Bank and ING. The deal, which pays a margin of 320bp over Libor, has raised more than $70m in syndication, bankers say, and will be signed for about $60m.

HVB and National Australia Bank have launched a limited syndication of the £65.25m of debt supporting energy company Viridis's £108m acquisition of a portfolio of UK landfill sites from Norgen Renewables. The debt comprises a £61m term loan and a £4.25m revolver that will not be syndicated.

Building materials group Wolseley will sign its Eu2bn revolver, via Barclays, BNP Paribas, Citigroup and Lloyds TSB, today (Friday). The loan will be increased. Mandated lead arrangers, arrangers and co-arrangers are being offered tickets of Eu200m, Eu100m and Eu50m respectively. The five year loan pays a margin of 20bp over Euribor. There is a commitment fee of 30% and a utilisation fee of 2.5bp if more than 75% is drawn down.

A bank meeting will be held today in London for telephone directory company Yell's £5.05bn acquisition facility via Citigroup, Deutsche Bank, Goldman Sachs and HSBC The deal is split into a £3bn five year term loan 'A' that pays a margin of 175bp over Libor, a 6-1/2 year £1.2bn bullet loan 'B' that pays a margin of 225bp, and a £400m five year revolver that pays 175bp over.

UK telecommunications group Vodafone was downgraded by Moody's and Standard & Poor's (S&P) this week. Further downgrades are likely. The downgrade came after the company posted pre-tax losses of Eu14.85bn, a record for a UK company. However, it was the firm's decision that it would give equity holders a £3bn windfall in 2007 — and the fact that it told analysts it expected to target a new credit rating of low single-A during a conference call on Tuesday morning — that persuaded the ratings agencies to act rapidly.

The bank meeting for Apax Partner's buy-out of fashion retailer Tommy Hilfilger, arranged via Citigroup and Credit Suisse took place in Amsterdam on Tuesday. Three tickets are on offer — Eu50m for 90bp, Eu35m for 75bp and Eu20m for 60bp.