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Since 1956, the Japan Highway Public Corporation has been responsible for the development and management of Japan's state-of-the-art expressway infrastructure. Hiroyuki Suzuki, manager of the funding division, explains that the corporation is still looking for a window in which to tap the international markets this year.

Jordan Telecom took advantage of excess liquidity in the Jordanian market to complete its Jd62m (Eu90m) IPO this week. The Jordanian government sold 26m shares at Jd2.35 apiece. The stake is equivalent to just over 10% of the company and makes Jordan Telecom the second largest company listed on the Jordan stock exchange by market capitalisation.

Kreditanstalt für Wiederaufbau (KfW) has rounded off a stellar year of benchmark funding with a Eu5bn three year trade that was closed a day early and almost Eu1.75bn oversubscribed.

Sole mandated arranger Standard Bank signed banks into the $15m six month trade finance facility for Nurbank on Monday in Almaty. The deal is priced at a margin of 325bp over Libor. Parex Bank joined as a co-arranger for a ticket of $3m. International Moscow Bank joined as a lead manager for a take of $2m.

Kreditanstalt für Wiederaufbau (KfW) has rounded off a stellar year of benchmark funding with a Eu5bn three year trade that was closed a day early and almost Eu1.75bn oversubscribed.

Rather than resting on its laurels after its incredible successes in the euro market in 2001, KfW sought to conquer the dollar market in 2002. And the agency has done just that, with a series of benchmarks that has left many bankers convinced that KfW will again scoop the borrower of the year awards. Philip Moore reports on the agency's continued success. After the spectacular success of its euro denominated benchmark programme in 2001, there was a danger that there would be an element of anticlimax for Kreditanstalt für Wiederaufbau's (KfW) issuance in 2002.

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

Rating: Aaa/AA+/AA+ Amount: $1bn

Rating: Aaa/AAA Amount: Nkr400m

Co-ordinating arrangers Development Bank of Singapore, LB Kiel, Mizuho Corporate Asia, Standard Chartered and Sumitomo Mitsui Banking Corp have launched an ¥18bn one and two year term loan for Shinhan Bank. Participants have the option to lend on a one or two year basis. On a one year basis lenders will earn a margin of 14bp over Libor and on a two year basis banks receive a margin of 19bp.

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

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