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The arranger off Avery Denison's $450 million Euro-CP programme is Barclays Capital. JPMorgan joins the arranger on the dealer panel.

Did you have a good Golden Jubilee weekend? Did you remember just for one moment to think of the British royal family or were you glued to the World Cup football? We suspect that the only people who hummed "God Save the Queen" in their shower were the Eurotunnel asylum seekers who will now live, relative to their countries of origin, the life of Riley on UK benefits and housing subsidies. We live near Ascot in the county of Berkshire, where almost everything carries a "royal" prefix - the proximity to Windsor Castle helps, and then there's the race-course. In such an area you might have assumed that loyalty towards the British monarchy would run high and the celebrations would have been at least equal to the Queen's Silver Jubilee in 1977.

European loan bankers' spirits were lifted this week by the news that Bank of America, Barclays and Citigroup/SSSB have won the mandate to arrange a £1bn facility for drinks company Bacardi, which promises to add spice to the loan market ahead of the summer holidays. So far this year activity in the Euroloan market has been pedestrian, with most issuance coming from investment grade industrial corporates, a few mid-cap borrowers and acquisitive companies, and the pace of loan business has failed to excite.

Syndication of the $300m five year facility for Arab Banking Corporation (ABC) is going smoothly and a number of commitments have already been received. Arrangers ING, BNP Paribas (bookrunner), Bank of Tokyo-Mitsubishi, HSBC (bookrunner), National Bank of Kuwait (domestic bookrunner) and National Bank of Abu Dhabi are taking $15m each.

The Eu1.4bn loan for the world's second largest brewer, Interbrew, is heading for an oversubscription. ABN Amro, Citigroup/SSSB and Fortis offered 17.5bp for banks taking Eu120m as arrangers and 12.5bp for co-arranger commitments of Eu60m. The facility is split into an Eu800m amortising term loan 'A' and a Eu600m multi-currency revolver. Both portions have a five year tenor.

Rating: A+ Amount: Eu500m

Rating: A2/A/A+ Amount: Eu500m

Thirteen banks this week signed the mandate letter for the South African Reserve Bank's (SARB) new loan. The mandated lead arrangers plan to launch the deal into syndication imminently with the final reply date set for July 9. The loan is split into two tranches: a 364 day piece priced at 90bp over Libor and a five year portion paying 110bp.

Pusan Newport Co has mandated both onshore and offshore arrangers for a 13 year project financing. The total project financing consists of $450m in debt, $224m in equity and a $269m non-repayable government subsidy. The debt package will be split between a $180m equivalent onshore facility, arranged by Kookmin Bank and Samsung Life Insurance, and a $270m offshore facility, arranged by HypoVereinsbank, Crédit Lyonnais, DZ Bank, IntesaBci, and Tokyo-Mitsubishi International (HK).

Sole mandated lead arranger Citigroup/SSSB has signed banks into the 20% oversubscribed Eu500m six year amortising term loan for engineering company Abengoa. The deal was a blowout success and commitments from 46 banks had to be scaled back. Joining Citigroup/SSSB as arrangers for Eu20.350m are ABN Amro, Banco Popular Español, Bank of America, Bank of Tokyo-Mitsubishi, Caja Madrid, Crédit Lyonnais, Deutsche Bank, HSBC, Instituto de Crédito Oficial, Royal Bank of Scotland and SG.