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EuroWeek understands that arrangers CIBC and Crédit Agricole Indosuez are close to completing the sub-underwriting phase of the Eu1.2bn of senior debt facilities backing the PAI-led buy-out of Elis from BC Partners. Banks thought to have committed to the deal in senior syndication are ING, HypoVereinsbank, Natexis Banques Populaires and Royal Bank of Scotland.

Rating: Aaa/AAA Amount: $500m (fungible with two issues totaling $3.75bn)

Gant, the Swedish clothing company, has chosen Carnegie to lead manage an IPO later this year. The company, which manufactures the US brand of casual clothing, is planning to float on the Swedish stock exchange if markets stage a recovery over the next few months. The company is likely to be valued at Eu100m-Eu150m.

ating: Aaa/AAA Amount: $3bn (increased from $2bn)

Six banks have joined the HK$2.4bn dual tranche facility for Citic Pacific. The arrangers Bank of China, Bank of Communications, Bank of Tokyo-Mitsubishi, BNP Paribas, Commerz East Asia and ICBC are waiting on one straggler before closing the deal. The HK$160m two year term loan for Fortune Telecom is progressing well. Two banks have committed already and arranger Citic Ka Wah Bank is waiting for a few more commitments.

HypoVereinsbank and Mizuho signed five banks into the senior sub-underwriting phase of the Eu545m of senior debt facilities backing the Doughty Hanson-led buy-out of Auto Teile Unger (ATU) on Monday.

The $320m receivables backed facility for Ghana Cocoa Board (Cocobod) has been launched into syndication. Barclays (facility agent), Standard Chartered (joint bookrunner), Crédit Lyonnais (joint bookrunner), Commerzbank, DZ Bank, Ghana International Bank (collection agent), ING, Natexis Banques Populaires, Rabobank, Royal Bank of Scotland and UFJ Bank have joined as arrangers. The deal pays a margin of 52.5bp over Libor and will be used to buy cocoa beans.

Mandated arrangers ABN Amro, Commerzbank and IntesaBci have collected all the responses to join the Eu300m five year facility for Hungarian Development Bank (MFB) and syndication will close by today (Friday). EuroWeek understands that the deal has been oversubscribed to Eu485m but it has not yet been decided if an increase will be accepted. Twenty banks have joined the deal. Bank Austria Creditanstalt, BayernLB, BNP Paribas, Dresdner Kleinwort Wasserstein, DZ Bank, Erste Bank, Fortis Bank, Landesbank Hessen-Thüringen, Landesbank Rheinland-Pfalz and NordLB have joined as lead arrangers for takes of Eu35m for 2.5bp. WestLB and Landesbank Baden-Württemberg joined as arrangers for tickets of Eu25m for a fee of 17.5bp. A further eight banks joined during general syndication.

Rating: A1/A/A+ Amount: Eu250m Inhaberschuld-verschreibung series 15008

Arrangers of the debt facilities backing the Eu3.8bn of debt facilities backing the Eu3.7bn buy-out of Jefferson Smurfit Group by Madison Dearborn Partners -Deutsche Bank and Merrill Lynch - confirm that they have received seven full underwriting commitments. According to Deutsche Bank, of the 10 invited banks ABN Amro, Allied Irish Bank, Bank of America, Bank of Ireland, HypoVereinsbank, JP Morgan and Lehman Brothers have all committed Eu350m for fees of between 162.5bp and 175bp.

This week was the quietest in the bond markets for many years as issuance was curtailed by the FOMC meeting, continuing volatility, and a historic week for US Treasury yields. The 10 year note touched 3.96% on Wednesday, the lowest level since 1963, and the five year note fell to 3.03%, a 40 year low. Both yields rose yesterday (Thursday), the 10 year to 4.20% and the five year to 3.33%. The early part of the week was dominated by the FOMC meeting. Expectations that the Fed would cut rates by 25bp were confounded and there was disappointment when it held the Fed funds rate at 1.75%.

This week was the quietest in the bond markets for many years as issuance was curtailed by the FOMC meeting, continuing volatility, and a historic week for US Treasury yields. The 10 year note touched 3.96% on Wednesday, the lowest level since 1963, and the five year note fell to 3.03%, a 40 year low. Both yields rose yesterday (Thursday), the 10 year to 4.20% and the five year to 3.33%. The early part of the week was dominated by the FOMC meeting. Expectations that the Fed would cut rates by 25bp were confounded and there was disappointment when it held the Fed funds rate at 1.75%.