Search results for

Rating: Aa1/AAA Amount: Nkr500m

Rabobank has put its name to four $10bn debt issuance programmes. The bank, through its structured investment vehicle Tango Finance, has put the finishing touches to a EuroMTN facility, a US MTN shelf, a EuroCP programme and a US CP facility. The issuer will use the proceeds to purchase investment grade securities in various currencies, ratings and tenors. The MTN programmes have been assigned ratings of Aaa/AAA from Moody's and Standard & Poor's, and the CP facilities have been assigned ratings of P1/A1+.

Mandated arrangers ABN Amro, Dexia, HVB Group and WestLB have not yet launched the $450m 4-1/2 year facility for Gazprom into syndication. The arrangers are talking to senior investors and will formally launch the deal into syndication in the next few weeks.

Bidding is hotting up for the mandate to arrange the $320m five year facility for Termoelectrica, which will be awarded next week. Three bidding groups are in the running. They include ABN Amro, Alpha Bank, Bank Austria Creditanstalt and Deutsche Bank; and RZB, Standard Bank, Crédit Agricole and Dexia.

The pipeline of Russian corporates seeking to list on the international equity markets continues to build, as investor sentiment towards the country improves. Heavy machinery manufacturer Uralmash-Izhora has announced plans to list on the London Stock Exchange next year and, according to analysts at Alfa Bank it is selecting an adviser.

Guarantor: RWE AG Rating: A1/A+

The US Securities and Exchange Commission (SEC) and Larry Thompson, the US deputy attorney-general, have repeated the allegation that Merrill Lynch actively co-operated with former Enron CFO Andrew Fastow in transferring some loss-making power barges to the Merrill Lynch balance sheet. Merrill Lynch denied the allegation in July when it gave evidence to a US Senate committee.

The US Securities and Exchange Commission (SEC) and Larry Thompson, the US deputy attorney-general, have repeated the allegation that Merrill Lynch actively co-operated with former Enron CFO Andrew Fastow in transferring some loss-making power barges to the Merrill Lynch balance sheet. Merrill Lynch denied the allegation in July when it gave evidence to a US Senate committee.

Six Continents, the UK-based leisure company, has told EuroWeek that it will not award the two loan mandates that will finance its demerger until December or January 2003 at the earliest. This is despite some banks' insistence that news of a mandate is imminent. As part of the separation plan of its hotel and retail divisions announced on Wednesday, each newly demerged company will take out separate loan facilities that together could add up to £2bn. A $3bn dual tranche facility signed for the then Bass plc in 1998 will also be refinanced.

Six Continents, the UK-based leisure company, has told EuroWeek that it will not award the two loan mandates that will finance its demerger until December or January 2003 at the earliest. This is despite some banks' insistence that news of a mandate is imminent. As part of the separation plan of its hotel and retail divisions announced on Wednesday, each newly demerged company will take out separate loan facilities that together could add up to £2bn. A $3bn dual tranche facility signed for the then Bass plc in 1998 will also be refinanced.

Mandated arranger RZB is collecting commitments to join the syndication of the Eu60m five year facility for Vseobecna Uverova banka (VUB). The deadline is October 18 and the deal will be signed by the end of the month.

Mandated arrangers Bank Austria, Citigroup/SSSB, Sumitomo and WestLB will sign banks into the Eu50m five year facility for Slovenia Export Corporation (SID) next week. The deal looks set to be increased after receiving an oversubscription of Eu70m.