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Bank of America (documentation, agent and bookrunner), SG (information memorandum and bookrunner) and Royal Bank of Scotland have launched the Eu400m revolving credit for recruitment agency Adecco into syndication. Banks have been invited to take Eu45m for 22.5bp, Eu30m for 16.5bp and Eu20m for 12.5bp.

Rating: Aaa/AAA Amount: $2bn

Finance officials from the world's most powerful industrial nations will this weekend assess a radical UK plan to increase aid to developing countries using securitisation. The aim is to double the annual flow of aid to developing countries from $50bn to $100bn by persuading rich countries to make long term commitments to aid donations, which can then be securitised.

Gazprom, the world's largest natural gas producer, will take Russia's corporate Eurobond market to a new level when it prices an expected $1.5bn 10 year bond today (Friday). Both the size of the deal, which is likely to be three times larger than any previous Russian corporate issue, and the 10 year maturity, mark a watershed for a market that has been expanding steadily since November 2001, when oil company Rosneft marked the return of Russian corporates to the international bond markets following Russia's 1998 financial crisis.

CSFB and Merrill Lynch will launch the first phase of syndication of the debt for the purchase of casino group Gala on Monday. EuroWeek hears that a top sub-underwriting ticket will pay around 150bp.

Gazprom, the world's largest natural gas producer, will take Russia's corporate Eurobond market to a new level when it prices an expected $1.5bn 10 year bond today (Friday). Both the size of the deal, which is likely to be three times larger than any previous Russian corporate issue, and the 10 year maturity, mark a watershed for a market that has been expanding steadily since November 2001, when oil company Rosneft marked the return of Russian corporates to the international bond markets following Russia's 1998 financial crisis.

Rating: Aaa/AAA/AAA Amount: £500m

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.