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  • Three banks have joined the $75m facility for Andhra Bank at the top level. Bank Muscat, BayernLB and DZ Bank join Bank of America, Calyon, DBS, Natexis Banques Populaires and RZB on the one year deal, which refinances a facility for the same amount and tenor that was signed in February 2005. The term loan is priced at 20bp over Libor, down from 30bp on the 2005 financing. Banks can earn 12bp for commitments of $8m and over, 11bp for commitments of $5m-$7m, and 10bp for $2m-$4m.
  • Indian issuers' determination to sell longer dated bonds is forcing them to pay more to borrow because of a shortage of demand at the 10 year maturity, bankers in Mumbai said this week.
  • Japan's equity new issues market was bursting with life this week, as trading company Mitsui & Co priced its ¥199bn ($1.69bn) new share issue, All Nippon Airways launched a roughly ¥100bn ($850m) new share issue and Fuji Oil sold out of its 3.9% stake in Nippon Mining.
  • The Australian commercial mortgage backed securities (CMBS) market got off to a good start this week when two familiar issuers successfully returned to the capital markets.
  • MGM Grand Paradise, the joint venture developer of the MGM Macau casino resort, has launched its $700m financing after naming lead banks in September 2005.
  • Crédit Lyonnais Securities Asia priced a block of shares in Hong Kong property company Chinese Estates Holdings yesterday (Thursday) on behalf of controlling shareholders the Lau family.
  • Macquarie Bank has recruited two senior executives to its Chinese investment banking and private equity business.
  • The $300m five year loan for Malayan Banking Berhad, or Maybank, has attracted its first commitment in syndication with $60m from Bayerische Landesbank.
  • Penerbangan Malaysia, the state-owned parent company of Malaysia Airlines, continued to court controversy this week as it prepared a likely $1bn 10 year deal which bankers expect to be launched in the first half of the year.
  • Two property developers launched syndicated loans in Hong Kong this week as the market picked up after the lunar New Year holiday.
  • Indian pharmaceutical company Ranbaxy Laboratories issued a $440m convertible bond on Wednesday evening Indian time that had to be re-offered at 99.00 but still struggled in the secondary market.
  • Rating agencies have responded over the last week to the final securitisation rules published on February 2 by the Reserve Bank of India.