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Akbank, Garanti Bank, Standard Bank and Vakif Bank have won the mandate to arrange the biggest single tranche non-government loan ever to be attempted in Turkey.

Cazenove is hoping the momentum it generated through successful IPOs for film studio Pinewood Shepperton and financial information provider Dealogic last week will boost sportswear manufacturer Umbro, which launched its £76.9m-plus IPO on Wednesday.

Rating: Aa2

Mashreq Bank has launched a $150m three year deal through sole mandated lead arranger and bookrunner Bank of America. The facility will be used for general corporate purposes and pays a margin of 40bp over Libor.

Danish wind turbine manufacturer Vestas Wind Systems yesterday (Thursday) announced a Dkr2.2bn (Eu394m) rights issue to help fund its takeover of NEG Micon, a Danish competitor.

Rating: A2/A+

Rating: Aaa/AAA/AAA

Dresdner Kleinwort Wasserstein and JP Morgan made an estimated Eu12.5m profit on the exchangeable bond they lead managed for German utility RWE last week.

While Korea?s bond market continues to be ex-Japan Asia?s largest and most diverse, it suffered a blow to confidence in 2003 as the corporate sector reeled from scandals and mounting credit card debt.

International bond activity from Korea soared in the first quarter of 2004 as quasi-sovereign borrowers and companies took advantage of the growing export sector and low international interest rates. But recent comments from Alan Greenspan, the US Federal Reserve chairman, about the threats of deflation disappearing have jilted bond spreads across the world. For Korean borrowers the principle concern will be whether the window of opportunity to launch new bonds has already begun to close. Richard Morrow reports.

Doughty Hanson?s sale of aircraft parts company Dunlop Standard Aerospace could generate new supply in the loan market, through financing for a trade buyer or financial sponsor.

The National Bank of Egypt International has approached lenders for a $100m loan. Citigroup and Barclays are bookrunners on the deal and are putting together a mandated lead arranger group.