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Construction of the Lincolnshire-based Spalding power plant reached financial close last week and the £429m of debt backing the project is set for launch. Barclays and Citigroup/SSSB are arranging the project financing which is split into three pieces. The bulk is made up of a £362m 19.5 year non-recourse tranche of senior debt. There is a £60m L/C facility and a £7m working capital portion. The deal has a debt to equity ratio of around 80:20.

Rating: Aa2 Amount: Sfr100m

The $500m five year multi-currency revolver for Trelleborg is in documentation and is due to be signed today (Friday). Danske Bank, Nordea, HSBC and Svenska Handelsbanken are arranging the deal, which has received an oversubscription and is due to be increased to $600m.

Amount: Eu162m Legal maturity: October 25, 2005

Arrangers Bank of Taiwan, China Development Industrial Bank and Chinatrust Commercial Bank have successfully closed the NT$3.5bn seven year term loan for Taiwan 3G Mobile Network. The facility was oversubscribed by 10%, but it was not increased and allocations were scaled back.

Barclays Capital (joint bookrunner, documentation), BNP Paribas (joint bookrunner), Deutsche Bank, JP Morgan and SG (facility agent) hope to wrap up general syndication of Glencore International's $2.5bn 364 day revolver by the end of this week. The deal for the natural resources company was already fully subscribed after senior syndication was closed and the arrangers expect the best efforts deal to be closed oversubscribed in retail.

TFM, the Mexican transport company, brought the LatAm new issue market a much-needed success story yesterday (Thursday) when it priced a $180m 12.5% 10 non-call five year bond - the first Latin high yield deal in almost 18 months. While market participants watched their Brazilian holdings go into a tailspin, TFM 's deal was three times over-subscribed, enabling underwriter Citigroup/SSB to increase it from $170m. It was priced at 12.75%, the tight end of 12.75%-13% price guidance to give a launch spread of 770bp over US Treasuries.

Is life a bed of roses at JP Morgan Chase after the recent top management reshuffles, when Geoff Boisi lost his head and several other senior executives required medical attention? Before we take a closer look inside JPMC's dirty laundry basket, wearing the obligatory Red Cross surgical gloves and a nosepeg, let us tell you about the opinion expressed by one very senior banker in New York who requested anonymity. He said that if Chase had not rescued JP Morgan, it is more than likely that JPM would simply have gone out of business.

BayernLB, Barclays and Duke Street Capital have joined senior syndication of the £260m financing for the Royal Bank Private Equity-led buy-out of safety and transportation group Britax. Lehman and HBOS are jointly lead underwriting the facilities, together with ING as arranger. All of the arrangers have committed between £20 and £25m, easing syndication pressure. A limited retail phase will be launched within the next 10 days.

Rating: Aaa/AAA/AAA Amount: Eu600m (increased from Eu500m)