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  • Intrum Justitia's IPO, which was priced last Friday and was 12 times oversubscribed, has traded strongly this week, closing yesterday (Thursday) up 9.5% from its launch price. The offering, which was lead managed by Enskilda and Carnegie, is one of the most successful IPOs this year.
  • Syndication has been wrapped up well oversubscribed on the Eu219.5m 16 year project financing for Huntstown Power Company arranged by Barclays Capital. The deal's tolling structure, the opportunity to buy into the deregulating Irish power market and the lack of similar transactions this year gave the distribution process good impetus.
  • EuroWeek understands that Barclays Capital is in the market with an £80m five year acquisition facility for JD Sports. The deal is being sold on a targeted club basis.
  • Rating: Aa3/AA- Amount: Eu750m
  • Rating: Aa3/AA-/AA- Amount: £200m
  • Arrangers BNP Paribas, Deutsche Bank and UBS Warburg will launch the syndication of the Eu2.4bn debt facility backing the merger between UK-based Kingfisher and France's Castorama next week. This first phase of syndication will be devoted to existing club banks of the borrower.
  • Mandated arranger Natexis Banques Populaires has launched the $250m three year facility for Hurricane Hydrocarbons Ltd into syndication and the deal is being well received in the market. The borrower is controlled by Russian and Canadian investors.
  • Kommunalkredit Austria has increased the debt size of its debt issuance programme from euro5 billion ($4.74 billion) to euro6 billion.
  • Guarantor: Federal Republic of Germany Rating: Aaa/AAA
  • Arranger Korea Development Bank has completed the $90m three year term loan for PMX Industries. Responses to the facility were positive, with commitments totalling $155m. The borrower, however, decided not to increase the deal size.
  • New Star Asset Management, the UK investment firm, has appointed Charles Tritton to head up its rapidly growing hedge fund business. Tritton joins New Star from HSBC where he was head of alternative investments. He is among a number of high profile personnel to have left the bank in the last week. The entire HSBC media research team handed in their notice on Monday.