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Rating: Aaa/AAA/AAA Amount: Sfr200m

State Bank of India has the mandate to arrange a $100m five year facility for the Power Finance Corporation. The deal carries a margin of between 50bp-70bp over Libor. Syndication will be launched next week.

Arrangers Mizuho Corporate Bank, Sumitomo Mitsui Banking Corp and UFJ Bank have completed a ¥93.45bn 3-1/2 year term loan for Recruit Co, an employment search company. Particpants are Chuo Mitsui Trust Bank, Aozora Bank and Sumitomo Trust. A number of undisclosed participants joined the deal. Proceeds are for general corporate purposes. Signing was in Tokyo on September 17.

Rating: Aaa/AAA/AAA Amount: $2bn

Rating: A3/BBB+/BBB Amount: $500m

CIBC has released the list of institutions signed into the debt facilities supporting the Elektra Partners buy-out of BWG from Pernod-Ricard. They are Allied Irish Banks, Bank of Ireland, Bank of Scotland, Abbey National Treasury Services, IIB Bank, Ulster Bank, Rabobank and Duchess I CDO, a special purpose vehicle of Duke Street Capital Debt Management.

Rating: Aa3/AA-/AA- Amount: Eu100m

Mandated arranger Deutsche Bank has launched syndication of the $30m one year term loan for ATF Bank. HVB Group joined the deal as an arranger and a number of other banks have also committed. Final commitments are due by early October.

Rating: Ba1 (subordinated), Baa3/BBB- (senior) Amount: $200m lower tier two capital

KorAm Bank and Industrial Bank of Korea (IBK) opened up the pipeline of Korean bank deals this week by launching two contrasting issues within a day of each other. The two borrowers adopted different strategies in launching the deals. KorAm Bank relied on domestic demand to prop up its Reg S 10 year subordinated bond issue. IBK looked to international investor demand for a new $500m three year benchmark Reg S transaction.

The successful completion of the Korea Development Bank deal and the close of the KorAm Bank facility (see below) are being watched by a number of other Korean banks. Hana Bank is inviting banks into a $200m fundraising, and Kookmin Bank and Kexim Bank are looking for $300m credits. Pricing is likely to be benchmarked against the recent Korea Development Bank deal. However, with the simultaneous launch of these loans, borrowers will have to pay up to attract interest. Market observers believe that the launch of the facilities will be staggered to prevent conflict.