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Hyundai Card, the third largest credit card company in South Korea, has mandated ING to arrange a $100m one year loan. The bank is looking to bring in a limited number of banks as mandated lead arrangers and expects to launch a general syndication in the next couple of weeks. The loan comes as another unit of Hyundai is under investigation by the Korean authorities, which allege that Hyundai Motor created slush funds to bribe politicians. Bankers acknowledged that the investigation was a cause for concern, but did not expect Hyundai Card's business — or its plans to raise funding — to be affected.

Temasek Holdings is not known for sharing its innermost fears with the outside world. Indeed, the Singapore Ministry of Finance's investment company is famed for keeping its cards extremely close to its chest.

Citigroup is rumoured to be arranging debt to support Carlyle Group's bid for Eastern Multimedia, Taiwan's biggest cable operator, in a buy-out that could be worth more than $900m. Citigroup has an existing relationship with Carlyle in Taiwan, having arranged debt to support the private equity firm's investment in Taiwan Broadband. Carlyle sold its controlling stake in that company to Macquarie Media last December.

Tata Steel is poised to draw down its $500m seven year loan and is looking for a further $750m to fund capital expenditure. Tata Steel signed its $500m equivalent loan on March 7 with a syndicate of 17 banks. The loan, which was denominated mostly in yen, proved popular in syndication and was increased from an original target of $400m. The bookrunners were Calyon, HSBC, ING Bank and Standard Chartered. The company will need an estimated Rp90bn ($2bn) over the next three years to March 2008 to fund capital investments, including the construction of a deep sea port and new coke oven plant, according to Standard & Poor's.