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  • Two bidding groups of banks are closing in on a mandate from the developers of a key commercial site in the centre of Singapore. CapitaLand, the Singapore property firm, and Hong Kong-based Sun Hung Kai Properties will develop the Orchard Turn site on Orchard Road, and are considering bids from two groups.
  • Banco de Oro, Development Bank of the Philippines and HSBC have received a strong response in the syndication of the $215m bridge loan for NutriAsia Pacific. The financing, which supports the acquisition of Del Monte Pacific, the Singapore-listed food company, is already oversubscribed and syndication is scheduled to close next week.
  • The Republic of the Philippines is offering to exchange 90 domestic government bonds for three new and more liquid benchmark securities, totalling Ps75bn ($1.4bn).
  • A Japanese Supreme Court decision on the high rates some Japanese finance companies charge borrowers will have "only a limited impact" on asset backed securities, according to Moody's.
  • After the Philippines and Indonesia, the Export-Import Bank of Korea has become the third of Asia's frequent borrowers to prepare a bond issue in 2006. The A3/A/A+ rated policy bank is understood to have mandated Barclays Capital, Citigroup and Deutsche Bank for a benchmark deal.
  • Lenovo Group, the Chinese computer maker, is set to return to Hong Kong's syndicated loan market less than a year after it signed its debut $600m five year deal. The borrower, which acquired IBM's personal computer business in a landmark deal at the end of 2004, has mandated six banks to arrange a new $300m financing, expanding the group of four firms that arranged last year's transaction.
  • The $120m five year loan for Bestory, a unit of CNPC (Hong Kong) has been reduced to $80m, with allocations scaled back.
  • Andhra Bank is looking to refinance a $75m one year deal that it signed in February 2005. The bank is looking for a similar amount and has no plans to increase the tenor.
  • JP Morgan, Hana Bank and Woori Bank are in the market with a $375m leveraged buyout facility to support the acquisition of Columbian Chemicals Corporation by a joint venture led by DC Chemical.
  • EuroWeek is pleased to introduce you to Taipan, our new
  • The NT$7.8bn three tranche credit for Allied Material Technology Corp loan was signed on Tuesday in Taipei. Mandated arrangers Bank of Taiwan, Hua Nan Commercial Bank, Taichung Commercial Bank and Taiwan Cooperative Bank were joined in syndication by 11 institutions.
  • Krungthai Card, a unit of Krung Thai Bank, has mandated Barclays Capital to arrange and syndicate a $125m equivalent three year corporate facility. The deal will be denominated in yen and a group of mandated lead arrangers is being formed.