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  • A $524.3m 16 tranche project financing for Trans-Thai Malaysia is in the market. Barclays Capital is arranging the deal. The financing is guaranteed by sponsors Petroliam Nasional (Petronas) and the Petroleum Authority of Thailand (PTT).
  • Bidding is fierce for the mandate on the Czech Export Bank's (CEB) $200m four year revolver. Four bidding groups are working on the transaction and the margin on the zero risk weighted credit may be as low as 10bp over Libor.
  • Spreads in the CDS market this week were at the mercy of news surrounding the bombing attacks in Madrid last week, said traders in New York. The market had been doubtful from the start that the devastation was the work of Basque separatists Eta, and levels pushed wider this week as it looked increasingly clear that Al-Qaida was responsible.
  • Amount: $1.5bn, Eu500m and A$553m (global)
  • In terms of profitability, return on capital and control of expenses, few securities houses managed to beat Merrill Lynch in 2003. What a transformation this has been. If you met someone who had been sailing single-handed around the globe for three years without any news of financial markets and told him that Merrill was now one of the most efficient firms on Wall Street, he would probably faint or ring for the men in white coats to come and take you away.
  • BNP Paribas has formally agreed to acquire US-based Community First Bankshares through its wholly owned subsidiary BancWest Corporation in a deal worth $1.2bn.
  • Short dated currency-linked trades were again popular in the structured market this week, as investors shied away from tying their money into long dated paper. HSBC was at the forefront of this, issuing several self-led deals, the majority linked to the Eu/$ exchange rate.
  • Derbyshire Building Society is close to signing its £1bn EuroCP facility through Barclays Capital, EuroWeek has learnt.
  • Rating: Aa3/A+/A+
  • Rating: Aa1/AAA/AAA