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Further details of the proposed acquisition by Elkem of its Swedish rival Sapa and the syndication of the debt facility which will back the acquisition will not be available until after the acceptance period for shareholders which will run from August 13 until September 2. Mandated arrangers for the facility are ABN Amro, DnB Markets and Svenska Handelsbanken.

Amount: Eu2.208bn Legal maturity: January 27, 2025

Syndication of the $200m reducing revolver for oil and gas exploration and production company Paladin has been closed oversubscribed. JP Morgan invited relationship banks to join the deal on two levels: as arrangers committing $25m for 45bp or as co-arrangers taking $20m for 27.5bp.

Syndication of the Eu170m five year facility for Polskie Sieci Elekroenergetyczne (PSE) will be closed on August 18. Mandated arrangers Citigroup/SSB and ING are still collecting commitments. Signing will take place at the end of August. There has been a slight oversubscription but the deal will not be increased.

Rating: Aaa Amount: Z300m

Credit committees at the eight banks expected to join the Eu900m 9-1/2 year dual tranche facility for Optimus Telecomunicacoes are still ploughing through financial information before signing off on the deal. The facility will partly refinance a Eu400m multi-tranche loan signed in 1999 and will help fund Optimus's UMTS build-out.

Bondholders voting at a meeting on Wednesday agreed to buy back all but two of Railtrack's £1.6bn of bonds, delaying the completion of Network Rail's purchase of Railtrack debt until September. At least 75% of the bondholders needed to vote and a clear majority had to be in agreement for the sale to proceed.

The pressure is building for EuroMTN dealers. The number of new programmes being signed is falling and the emphasis on gaining new dealership mandates and retaining existing dealerships is becoming immense. More than 20 houses can claim to be credible dealers in the market, but Deutsche Bank and Citigroup/SSSB are arguably the two most established names and this is reflected in the dealer added league table (see table). But despite being a dealer on over half of the new facilities signed this year, Chris Cox, head of EuroMTN trading at Citigroup/SSSB, said that it is not the group's policy to go for every mandate available.

Rating: B2/B-/B- Amount: $750m

Royal & SunAlliance's share price fell 21.5% yesterday (Thursday) after it admitted that it was looking at a rights issue to make up for a shortfall in capital. The UK insurer embarked on a programme earlier this year to raise £800m in capital through disposals and restructuring. It has nearly raised that amount, but yesterday said that the £800m would not be enough to fund all the business that it wants to undertake.

Mandated arrangers BNP Paribas, Citigroup/SSSB and WestLB are due to launch the $450m five year facility for Sibneft into general syndication next week. RZB and Natexis Banques Populaires have joined as arrangers and BGB, Fortis Bank, HSBC, Moscow Narodny Bank and Shell also joined during senior syndication. The facility consists of two tranches: a $300m 3-1/2 year tranche that carries a margin of 350bp over Euribor; and a $150m five year tranche paying a margin of 410bp over Libor.

Senior syndication of the Eu2.35bn acquisition financing for Saudi Basic Industries Corporation (Sabic) is proving harder work than expected. A couple more banks are still to decide whether to commit - if they do it is likely to be with take-and-holds.