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  • Mandated lead arranger DBS is waiting for one more bank to revert on its $120m deal for Bestory, a financing vehicle for CNPC (Hong Kong). The five year loan is likely to be signed next week.
  • The world of investment banking moves in mysterious ways, but even the best spin doctors in the business have been unable to convince current or potential employees that it is the most fun place in which to work.
  • Europe's bond markets had more or less shut down for the December break by yesterday (Thursday), with one exception — asset backed securities.
  • Europe's bond markets had more or less shut down for the December break by yesterday (Thursday), with one exception — asset backed securities.
  • Leasing company Lysing has signed its Eu25m five year facility via HSH Nordbank. Allocations were scaled back after heavy oversubscription.
  • The Asian bond market responded warmly this week to Advance Agro's $250m bond, at B3/CCC believed to be the region's lowest rated new issue.
  • Rating: B3/CCC
  • With the last deals of 2005 coming to a close, all eyes in the European equity capital markets have turned to the outlook for 2006, and which deals will be first out of the blocks.
  • Rating: AA
  • Bookrunner Calyon has closed general syndication of the $3bn structured commodity export finance facility for Sonangol — an additional 15 lenders or more are expected to commit to the facility. The deal was increased from $2bn after raising an oversubscription during senior syndication.
  • Investment banks and rating agencies have started to issue their forecasts for the European credit markets in 2006. Those that have uttered so far agree on one thing: the market could be in for a tough ride next year.
  • Investors dumped Argentina's bonds yesterday (Thursday) afternoon on news that President Nestor Kirchner had decided to sever the country's 22 year ties with the IMF and pay back the entire $9.8bn it owes.