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Six Continents is close to mandating five banks to lead arrange two separate £1.5bn demerger facilities. EuroWeek understands that Barclays, Citigroup/SSSB, HSBC, JP Morgan and Lloyds will have leading roles in both facilities. This has not been confirmed by Six Continents. According to the company, however, a formal mandate will be awarded next week.

Mandated arranger Bank of Tokyo-Mitsubishi has signed banks into the Eu75m five year facility for Slovenske Elektrarne. The deal was oversubscribed to Eu100m, but no increase was accepted. The credit pays a margin of 150bp over Libor with a commitment fee of 65bp of the undrawn and cancelled portion of the facility. Crédit Lyonnais joined the deal as an arranger. Alpha Bank, HSBC and HVB Bank Slovakia joined as co-arrangers for takes of Eu12.5m for a fee of 70bp. Bawag joined as a lead manager for a ticket of Eu10m for 65bp and Banque Misr, BayernLB and Unibanka joined as managers for Eu5m for 57.5bp. Proceeds will be used for general corporate purposes.

Rating: A1/A+ Amount: £450m lower tier two capital

Banks in ABSA's $300m one year term loan signed in March 2002 have until Monday to come back to the borrower with internal approvals for the refinancing of the loan. According to bankers working on the facility, the term sheet of the new deal is identical to last year's loan.

ABN Amro, Crédit Agricole Indosuez and SG are arranging a Eu800m or so project financing for AES Cartagina. Eléctricité de France is the offtaker.

Issuance between one and three years was highest this week, exceeding the next highest maturity range by almost $2bn. Over $4.7bn was issued between one to three years from 77 issues. Euro and dollar issuance dominated between one and three years with over 80% of total volume, but other currencies were also tapped. Sterling proved a popular choice. Bank of Ireland closed a £100m note that matures on July 30, 2004. The note pays a coupon of three month Libor flat and was led by ABN Amro.

Guarantor: Caja de Ahorros del Mediterráneo (CAM) Rating: A1/A-/A+

Capital markets veteran Tim Skeet is joining ABN Amro to head up European bank origination. Skeet will report to Spiro Pappas. Former head of financial institutions Pappas becomes global head of a new debt capital markets origination group called financial institutions and public sector (FIPS).

The $60m equivalent five year fundraising for PFG (Kunshan) Co has been launched into general syndication by arranger Citigroup/SSB. The deal is split between a $30m portion priced at 51bp over Libor and a $30m renminbi equivalent tranche paying 90% of the People's Bank of China lending rate.

Colombia's nerves got the better of it this week as the country moved quickly to issue $500m 30 year bonds before markets worsened. The 10.375% of 2033s, led by Credit Suisse First Boston and JP Morgan, were announced and priced on Tuesday at a re-offer of 92.514 to yield 11.25%, or 634bp over Treasuries, just as the market began to turn sour.

Colombia's nerves got the better of it this week as the country moved quickly to issue $500m 30 year bonds before markets worsened. The 10.375% of 2033s, led by Credit Suisse First Boston and JP Morgan, were announced and priced on Tuesday at a re-offer of 92.514 to yield 11.25%, or 634bp over Treasuries, just as the market began to turn sour.

The deadline for committing to the Eu150m five year facility for Privredna Banka Zagreb (PBZ) is drawing near and commitments have been coming in steadily. Two tickets are on offer: arranger for Eu20m; and co-arranger for Eu15m. For more details see EuroWeek 786.