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  • Agricultural wholesaler Agravis Raiffeisen has completed syndication of its Eu400m revolver through mandated lead arrangers Dresdner Kleinwort Wasserstein (bookrunner) lending Eu30m, DZ Bank (bookrunner) committing Eu70m, HSH Nordbank lending Eu35m, HVB committing Eu30m, WestLB (bookrunner) also lending Eu30m and WGZ Bank (bookrunner) pledging Eu45m apiece.
  • General Motors Acceptance Corp, the finance arm of General Motors, agreed this week to sell $55bn of car loans to Bank of America — a loan sale of unprecedented size.
  • General Motors Acceptance Corp, the finance arm of General Motors, agreed this week to sell $55bn of car loans to Bank of America — a loan sale of unprecedented size.
  • Total hedge fund assets reached an all time high of $1.025tr in the second quarter, according to a report released this week by Hedge Fund Research.
  • The Hellenic Telecommuni-cations Organisations (OTE) is in the market with a Eu850m loan through arrangers Bank of America, Bank of Tokyo-Mitsubishi, Dresdner Kleinwort Wasserstein and Alpha Bank. All except BoA are also bookrunners.
  • Mandated arrangers Bank of China and HSBC launched a $150m three year revolving term credit for Global Bio-Chem Technology Group into syndication on Wednesday.
  • Rating: Baa2/BBB
  • Rating: A1/A
  • Banks are discussing financing packages with the 10 bidders for Budapest Airport, the privatisation of which will involve around Eu1bn of commercial financing.
  • Mandated lead arrangers ABN Amro, Bank of America and WestLB have completed syndication of pharmaceutical company Actavis' Eu600m loan. The loan was increased by Eu100m following an oversubscription.
  • Allocations for Hindustan Zinc's $125m multi-tranche fundraising have been finalised. Mandated lead arrangers ABN Amro, Calyon and Standard Chartered Bank committed $12.5m each.
  • Coordinating lead arrangers DBS Bank, Standard Chartered Bank and Sumitomo Mitsui Banking Corp have launched the $600m five year leveraged buyout facility for Arindo Global (Netherlands) into senior syndication.