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Sole mandated arranger Standard Bank has closed syndication of the $15m six month trade facility for Nurbank. At the end of the month nine banks from six different countries will be signed into the deal.

Guarantor: Kreditanstalt für Wiederaufbau Rating: Aaa/AAA/AAA

Rating: Aaa/AA+/AA+ Amount: $750m

Co-ordinating arrangers Citigroup/SSB, Kookmin Bank and Shinhan Bank have closed the $200m dual tranche facility for LG Electronics Inc. The deal is split between a $100m two year portion paying 71bp all-in and a $100m three year tranche priced at 81bp all-in.

Guarantor: Federal Republic of Germany Rating: Aaa/AAA/AAA

Guarantor: Federal Republic of Germany Rating: Aaa/AAA/AAA

Lloyds plc and HBOS have been mandated to arrange a £80m dual tranche loan for Admiral plc. The facility is split into a £60m six year amortising term loan 'A' and a £20m six year revolver.

The mandate to arrange the new $50m 364 day term loan for the African Export and Import Bank (Afreximbank) was awarded this week. The mandated arrangers Dresdner Kleinwort Wasserstein (documentation), KBC, WestLB (bookrunner) and Standard Chartered (bookrunner) will launch general syndication today (Friday). The credit will pay a margin of 45bp over Libor.

Ford and GM bonds had a roller-coaster ride this week, as investors dealt with the shock of Standard & Poor's (S&P) contentious downgrade of GM followed by an intense short selling squeeze yesterday (Thursday) as bonds joined the US equity market rally. Ford Motor Credit's 7.25% of 2011 was trading around 535bp yesterday afternoon from a close of 565bp on Wednesday.

The Pfandbrief market was given a boost yesterday (Thursday), when Allgemeine Hypothekenbank Rheinboden (AHBR) launched a Eu1bn 2004 Hypothekenpfandbrief via Deutsche Bank, Dresdner Kleinwort Wasserstein and HypoVereinsbank. The borrower had planned a four year jumbo issue, but after Münchener Hypothekenbank decided to postpone its five year Pfandbrief last week, AHBR had to reassess its aims.

Rating: A1/AAA/AA+ Amount: Eu1bn Hypothekenbank Pfandbrief

US-based global broker Auerbach Grayson and securities technology firm Cross Border Exchange Corp (Crossbordex) this week announced plans for the launch of a member-owned electronic cross-border trading platform that is capable of executing and clearing securities orders in virtually every liquid equity market in the world. Called Axes, the internet-based system will provide continuous round-the-clock on-line trading for broker-dealer members of Auerbach Grayson's international network, which boasts member firms in 83 countries.