Search results for

Lehman Brothers and HBOS, as joint lead underwriters, together with ING as arranger, have launched the general syndication of the £175m financing for the Royal Bank Private Equity-led buy-out of safety and transportation group Britax. At this stage banks have been offered tickets of £10m for 80bp, with the leads looking to raise around £40m from the market. A bank meeting will be held on Monday.

Croatian shipbuilder Brodosplit Plovidha has returned to the loan market to secure a $10m two year facility. Four banks have joined the club-style facility: Standard Bank for a ticket of $3m, Erste Bank for $2m, LB Kiel for $3m and LBS New York -which is a wholly owned subsidiary of Nova Ljubljanska banka - for $2m.

Rating: Aaa Amount: Sfr600m

Guarantor: Cadbury Schweppes plc Rating: A2/A

Rating: A- (Fitch) Amount: Eu165m

Guarantor: Canada Mortgage & Housing Corp Rating: Aaa/AAA

Rating: Aa3/AA- Amount: $500m (fungible with $1bn issue launched 06/03/02)

Mandated lead arrangers HSBC and Deutsche Bank will bring a £150m loan facility for Carphone Warehouse to the market next week. The deal will refinance an existing facility.

Rating: A3/BBB+ (Moody's/Fitch) Amount: Eu200m upper tier two capital

Cheshire Building Society (Cheshire) has signed a £750 million ($1.1 billion) Euro-MTN programme and has become the second building society to join the market this year. The signing, which was completed on June 10, will "Give a little bit of long-term funding and spread our funding base longer at reasonable prices," according to John Astbury, the treasurer at Cheshire. The first trade will be done in July and will be denominated in sterling. It is likely to have a maturity of three years, but Astbury says it could be as long as five years. No trade will go out further than 10 years however and structures will not be considered. Derbyshire Building Society signed its £1 billion Euro-MTN facility in March this year and there are now 20 building societies with programmes. Despite the competition Astbury says no roadshow will be done as he is confident of finding funds when he needs them. He says: "Our bankers have assured us that there will not be any problems with attracting investors - we're in there with the rest of them." The issuer is rated Baa1 by Moody's. The dealers are Barclays Capital (also the arranger), Deutsche Bank, Dresdner Kleinwort Wasserstein, HSBC, Salomon Smith Barney and The Royal Bank of Scotland.

Co-ordinating arrangers have closed the $170m three year term loan for Sinochem American Capital Corp, a wholly owned subsidiary of Sinochem American Holdings. The market responded well to the facility, with an oversubscription of over 20% raised. The size of the deal was increased from $150m. However, the allocation amounts still had to be scaled back.

Rating: Aa2/A+ Amount: $1.25bn (increased from $1bn)