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Rating: Aaa/AAA/AAA Amount: Nkr500m

Rating: Aaa/AAA Amount: Eu100m (increase to Eu900m issue launched February 12, 2003)

Rating: Aaa/AAA/AAA Amount: $500m

Rating: A2/BBB/A- Amount: Eu750m

Drugs company Merck has requested proposals from its banks for a refinancing. The company has a DM1.25bn revolver signed in 1996 which matures this year. Dresdner Kleinwort Wasserstein and Deutsche Bank arranged that loan which paid a margin of 15bp over Libor. A utilisation fee of 2.5bp was charged for drawings over 50% and a ticket of Eu75m offered 10bp in fees. It was Merck's first Euromarket loan and was used for general corporate purposes and to provide backstop liquidity. The deal was closed oversubscribed to DM1.5bn and increased from DM1bn.

Development Bank of Singapore has secured the mandate for a HK$200m facility that will be the first fundraising for Samson Paper. Presentations are due to be held in Hong Kong on February 26 with responses due March 14.

Rating: Aa2/AA/AA+ Amount: Eu100m (fungible with Eu200m issue launched 21/01/03)

HSBC was the biggest mover in Dealogic Loanware's mandated lead arranger league table of Euromarket loans this week shooting up from 10th to third place. This is due to the bank's leading roles in the £1.5bn facility for Mitchells & Butlers and a £2.5bn facility for InterContinental Hotel Group. Both of these companies have been demerged from UK based Six Continents. Six Continents has also taken out a £3bn facility clubbed between Barclays, Citigroup/SSSB, HSBC, JP Morgan and Royal Bank of Scotland to refinance its existing debt.

The mandate to arrange the new Eu500m five year facility for Mol should be awarded next week. The loan will be one of the most important Hungarian deals this year as Mol is one of the country's blue chips and the oil and gas sector is attractive to lenders at the moment. Bank Austria Creditanstalt and DZ Bank have closed syndication of the Eu75m five year bullet facility for HVB Group Hungary. Banks will be signed in by March 17.

Rating: Aa2 Amount: Sfr200m

Rating: Baa2 Amount: Eu500m

Rating: Baa1 Amount: Eu500m