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Guarantor: Banco Santander Central Hispano

Bookrunner Calyon has closed syndication of Saudi Oger's $700m five year term loan. The amortising deal, which has an average life of 3-1/4 years, raised more than $1bn and is likely to be increased before next week's signing.

Guarantor: SES Global Americas Holdings GP

The successful completion of Europe's largest ever leveraged buy-out of TDC was threatened yesterday (Thursday) when Danish pension fund ATP managed to win an appeal from Denmark's Commerce and Companies Agency (CAA). The Danish regulator ruled that the private equity consortium Nordic Telephone Company was not allowed to make a compulsory purchase of minority stakes before owning 90% of shares.

Rating: A-

Guarantor: Siemens AG

There was a burst of single-A issuance in the Swiss franc market this week, led by France Télécom, which returned to the market on Tuesday for the first time for five years with a Sfr400m six year trade offering a coupon of 2.75%. The deal was a refinancing of the company's Sfr1bn January 2001 bond, which matured on February 22. Lead manager Credit Suisse pre-marketed the deal at Sfr300m and after discussion with key accounts was able to bring a trade of Sfr400m. Disregarding issues from Toyota Motor Credit Corp and GE Capital, this is the largest deal in the market for three years.

Banka Celje will shortly mandate six banks to arrange its Eu125m two year loan, which will have a three year extension option.

And while on the subject of Royal Bank of Scotland, did you see the suggestion in a serious financial newspaper, which should have known better, that RBS might be a bid target?