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Rating: A2/A-/A Amount: Eu300m

The mandate to arrange the $600m five year facility for Stena AB has been awarded to JP Morgan, Nordea and Svenska Handelsbanken, which are due to launch syndication of the facility by today (Friday). The credit is understood to pay a margin close to 150bp over Libor. More details will be available next week.

Rating: Aa2/AA+ Amount: NZ$100m

BNP Paribas, Deutsche Bank and JP Morgan (bookrunner) have been mandated to arrange a $550m refinancing for oil supply company Vitol SA. The loan is split into a $220m three year revolver offering a margin of 75bp over Libor and a 30bp commitment fee and a $330m 364 day revolver paying a margin of 55bp and a commitment fee of 22.5bp. Both tranches offer a utilisation fee of 5bp if over 50% of the deal is drawn and 10bp if over 75% is drawn down.

The high yield market closed to borrowers this week as TI Automotive and Brake Brothers postponed new issues and Jefferson Smurfit's Eu905m equivalent transaction from last week widened. TI Automotive, the British fuel and braking systems company had planned to launch a $300m issue via JP Morgan, but postponed it on Tuesday.

David Charters was a managing director in equity capital markets at Deutsche Bank for five years before quitting investment banking in 2000. Having published in September a collection of short stories about life in the City, he spoke to Steve Metcalfe about his experiences; why he left and what he thinks of the challenges facing the equities market. David Charters picked a busy time to start writing fiction. Camped out in Frankfurt for six weeks in 1996 during the toughest few weeks of his career - the DM20bn IPO of Deutsche Telekom - he found inspiration during quiet moments of the immense bookbuilding process.

The bids for the arranging mandate for the Tawellah Reverse Osmosis project are due in on October 14. The project will require around $250m to $275m of debt and will be structured along similar lines to Abu Dhabi's existing power and water projects such as Tawellah A2. Abu Dhabi Water & Electricity Authority will be the majority shareholder in the scheme.

News hit the markets this week that Permira was in poll position in the auctioning off of Compass Group's businesses, Travelodge and Little Chef. Permira is said by bankers to have financial backing from CIBC.