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  • Citigroup and ING have won the mandate to arrange Alliance Bank's latest facility, EuroWeek hears. The loan, likely to be $50m in size, has a one year tenor with a one year extension option.
  • Banks are preparing bids to arrange financing in support of the Eastern Africa Submarine Cable System project.
  • The South African rand dominated the retail currency Eurobond markets this week, with two trades. The Norwegian krone was the only other non-core currency in which there was a deal.
  • KfW
    Guarantor: Federal Republic of Germany
  • Rating: Aaa/AA+/AAA
  • Would the private placement market benefit from greater liquidity? After all, one of the advantages of having an illiquid market is that issuers can have longstanding relationships with their investors — something that is clearly lacking in the public market. However, corporate scandals such as Enron and Parmalat have shown that hedging mechanisms can be extremely desirable.
  • We're always tickled a little pink by some of the antics that trundle on in the EMTN market but there seems to be only one colourful character that comes up with the goods week in, week out.
  • Loan Ranger was delighted to be invited last week to London's Dorchester Hotel for the signing of Russia's MDM Bank's latest facility.
  • Six of the top 10 banks in the private EuroMTN market have performed better in the first quarter of this year than they did in the first quarter of 2004, according to data from Dealogic.
  • AIG Credit Card has invited banks to bid for a refinancing facility.
  • Tata Tea has launched a £142.5m five year loan through mandated lead arranger Rabobank. The deal is split between a £67.5m five year tranche paying Libor plus 145bp and a £75m five year tranche, also paying Libor plus 145bp. A commitment fee of 65.25bp is also on offer.