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Rating: Baa1/A-

The Federal State of Brandenburg has set up a Eu3bn debt issuance programme through Deutsche Bank.

The response to First Investment Finance's Eu20m 364 day loan has been favourable and the borrower is likely to take an increase. BayernLB and RZB are the mandated lead arrangers.

SECONDARY TRADING

Barclays (bookrunner), Calyon (bookrunner), Sanpaolo IMI, Bank of Tokyo-Mitsubishi and Caja de Madrid have been mandated to arrange a $200m term loan for Companhia de Telecomunicaciones de Chile.

AU Optronics (Suzhou) Corp's $150m five year fundraising should reach financial close shortly. Citigroup is the mandated arranger.

Rating: Aaa/AAA (Moody's/Fitch) Amount: Eu1.25bn obligations foncières

Rating: A2/A-

A consortium of five global buy-out groups is putting together an Eu11bn bid for Spanish telecommunications business Grupo Auna. Apax Partners, Blackstone, the Carlyle Group, CVC Capital Partners and Providence Equity Partners are the five sponsors looking at the asset. Bankers would not confirm this week whether there was a financing package already in place for the bid, although some have whispered in the past week about a large loan being structured for a double digit leveraged buy-out.

What is going on at 60, Gracechurch Street in the City of London? Once upon a much happier time, this was the rock'n'roll home of Commerzbank Securities, where the cavalier Mehmet Dalman ruled the roost and trading was the name of the game. Young, eager staff hustled and bustled. Some daring deals were made. High-flying billionaire businessmen came to call, who normally wouldn't have given Commerzbank a second thought. In Frankfurt, the other members of the Commerzbank Vorstand regarded Dalman as an enfant terrible and treated him with grave suspicion because they couldn't understand his trading strategies.

The refinancing loan for power utility Ceske Energeticke Zavody (CEZ) will proceed into limited syndication next week. SMBC is mandated lead arranger.

German carmaker Daimler-Chrysler will pay a margin of Euribor plus 27.5bp on its $5bn refinancing. ABN Amro, Citigroup, Commerzbank, Deutsche Bank (bookrunner), HSBC and JP Morgan (bookrunner) are mandated lead arrangers on the transaction.