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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.

The general syndication of the £1.795bn of debt facilities for Tube Lines, the holder of the Jubilee, Northern and Piccadilly lines concession under the London Underground Public Private Partnership (LU PPP), is progressing smoothly. Banks are apparently unfazed by the latest legal attempts by the mayor of London, Ken Livingstone, to prevent the scheme going ahead.

Commitments for the single stage syndication of the $50m facility for the Union International de Banque are due in by June 21. A number of banks have already committed and the deal is understood to be progressing smoothly.

Mandated arranger RZB is due to sign banks into the $15m one year term loan for Banque du Bosphore today (Friday). The deal has received an oversubscription and will be increased to $27m.

Rating: A1/A+ Amount: Eu100m

Vodafone has increased the debt limit of its euro8 billion ($7.55 billion) Euro-MTN programme to euro12 billion.

Carlsberg Breweries is expected to launch its medium term debut euro benchmark issue at the end of next week through Citigroup/SSSB, Deutsche Bank and Nordea. The roadshow kicked off yesterday (Thursday) in Helsinki and will move on to Norway and Sweden today (Friday), and then across Europe, and finally to London, where it will finish next Thursday.

GECC's various fundraising exercises dominated a market weakened by falling equities this week. Success in the dollar market with a $6bn resettable, puttable FRN and a $1bn 30 year non-call five retail targeted bond resulted in a reduction of the borrower's fixed rate euro transaction to Eu2bn and the addition of a Eu1bn two year FRN. Investors in Europe took comfort from the announcement by GE that the company may not tap the euro market again this year and, if it does, it will not be until the third quarter. SCA and Renault proved that there is strong demand for corporate paper in euros, both companies achieving oversubscribed books and strongly performing deals.