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Reaction to the September 11 anniversary will be more muted on the emerging markets desks in London and throughout Europe than in the US, although most banks expect to observe at least one period of silence. One trader said no meetings have been arranged on Wednesday. He expects most people to spend the day at their desks, watching the news and their screens. "If something relating to al-Qaida happens, then we will see extremes," he said. "If nothing happens, then recent volatility will calm down."

Rating: AA- Amount: $100m

The S$300m three year term loan for Unicorn Square is progressing well. Another six banks have joined the facility along with arrangers DBS and OCBC. Banks will receive a margin of 72.5bp over the Singapore dollar swap rate and a top participation fee of 9bp. Closing will take place next week after allocations and details are finalised.

Mandated arranger Sumitomo will announce allocations for the Eu97m five year facility for Slovak Telekom and banks will be signed into the deal on September 18. The credit has been oversubscribed but will not be increased. The facility carries an EIB guarantee and pays a margin of 85bp over Libor.

A shortlist of banks has been compiled to arrange the Eu50m-Eu60m facility for Nova Ljubljanska banka. Banks close to the deal include Bank Austria and ING. A mandate is due to be awarded in the next two weeks.

Joint mandated arrangers BayernLB, Standard Chartered, WestLB and KBC Bank signed banks into the $100m 364 day dual currency debut syndicated term loan for Investec Bank South Africa yesterday (Thursday). Bank Sepah International, Crédit Lyonnais, Hamburgische Landesbank and WGZ Bank have joined as co-arrangers. Erste Bank, LB Kiel, Landesbank Rheinland-Pfalz, Royal Bank of Scotland and Wachovia Bank are lead managers. Banca Monte dei Paschi di Sienna, Israel Discount Bank of New York and Landesbank Saar Girozentrale are managers.

Rating: A- Amount: £10m index linked bond (fungible with £75m issue launched 25/07/02)

JP Morgan is co-ordinating a circa Eu300m acquisition facility for television station Antena3tv. Proceeds will finance the acquisition of a local radio station. Banks are eagerly awaiting the launch of Unión Fenosa's Eu2bn refinancing - provided the deal carries the right pricing.

Arrangers Barclays Capital and Citigroup/SSSB have closed and signed the £429m project financing for the Spalding independent power project. The facility has been fully subscribed according to the arrangers, although one or two banks are still considering taking a position in the deal. The project offers margins of 135bp to 170bp. The debt is split into three portions - a £362m 19.5 year non-recourse tranche of senior debt, a £60m LC facility and a £7m working capital facility. The deal has a debt-to-equity ratio of around 80:20.

Redemption per Eu1,000 shall be calculated as follows: