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  • Banks have been asked for proposals to refinance the Eu75m two year loan RZB Bulgaria signed in June 2004. The new deal is likely to be for Eu100m and have a three year tenor.
  • Arab National Bank has mandated Deutsche Bank, Gulf International Bank, JP Morgan and Riyad Bank to arrange a $250m three year loan. It will be the borrower's debut syndicated facility.
  • Rating: Aa3/AA-
  • Klaus-Rainer Wagenknecht, the veteran Dresdner Bank structured finance banker, is leaving the firm.
  • Rating: Aa3/AA-
  • Attention in the ABS market focused once more on the Italian Treasury's second real estate securitisation, Societa Cartolarizzazione Immobili Pubblici 2, after a poor payment report this week cast further doubt on the deal's chances of meeting its next expected maturity payment date in April.
  • Two Russian companies are expected to sell Eurobonds today (Friday), after diamond producer Alrosa sold a $200m tap yesterday (Thursday). Home Credit & Finance Bank (HCFB) is expected to sell a $150m three year issue via Citigroup, with yield talk in the 9.125% area. The book for the bond was described as oversubscribed yesterday.
  • The Autorité des Marchés Financiers, the French market regulator, has launched an investigation into the conduct of senior executives of media company Vivendi Universal over a Eu1bn convertible bond issued in November 2002.
  • All Asia's major economies have functioning domestic bond markets, but rapid growth and development is likely to come only when they are open to foreign issuers and investors. As Adam Harper reports, progress is being made but regulators' caution and the lack of swap markets are still slowing things down.
  • Deutsche and ING vie for Chinese bank