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The senior syndication of the Eu2.35bn acquisition financing for Saudi Basic Industries Corporation (Sabic) is progressing smoothly and should be completed by early next week. Despite concerns that there may be little liquidity beyond Saudi Arabian institutions for the deal, the mandated lead arrangers report regional and international commitments at this level.

Amount: $550m and A$25m Legal maturity: July 13, 2033

Following the recent spate of Singapore dollar denominated loans to hit the market, HSBC and Maybank have launched a S$175m three year transferable loan facility for AMK Properties Pte. The deal is split between a S$129m land loan tranche priced at 70bp over the Singapore dollar swap rate and a S$46m construction loan priced at 90bp over. Fees to the market have been offered on three levels with arrangers contributing S$30m or more gaining 21bp, co-arrangers absorbing S$20m receiving 15bp and lead managers pledging S$10m earning 9bp.

Mandated arrangers Mizuho and Bank Austria will launch the Eu30m five year facility for Telekom Slovenije into syndication at the end of the month. The facility carries an EIB guarantee. The borrower is 66.52% state owned.

Banks have been signed into the $1bn dual tranche loan for the South African Reserve Bank (SARB). The loan was closed oversubscribed but no increase was accepted.

Construction company Grupo Acciona has secured a Eu1.6bn seven month bridge facility from mandated lead arrangers and joint bookrunners BBVA (facility agent), BNP Paribas, Citigroup/ SSSB and JP Morgan. The deal will not be syndicated. A group of 13 banks has arranged a Eu1.2bn facility for Auna Operadores de telecomunicaciones.

Syndication is progressing on the £429m project financing for the Spalding independent power project arranged by Barclays Capital and Citigroup/SSSB. The debt is split into three portions - a £362m 19.5 year non-recourse tranche of senior debt, a £60m LC facility and a £7m working capital facility. The deal has a debt to equity ratio of around 80:20. The project is sponsored by Intergen - the joint venture between Shell and Bechtel.

Redemption per note shall be determined as follows:

Mandated arrangers Danske Bank, HSBC and SEB Merchant Banking will launch the $500m five year revolver for Swedish Engineering group Sandvik in the next two weeks. The revolver includes a Skr1bn swingline facility. A bank presentation will take place in Stockholm in August. The facility will be used for general corporate purposes, including CP backstop.

Rating: A1/AA- Amount: Eu500m

Bank of Taiwan, Chinatrust Commercial Bank and Taiwan Cooperative have received the mandate to arrange a NT$15bn equivalent facility for AU Optronics. The borrower is a merger of Acer Display Technologies Inc and Unipac Optoelectronics Corp and produces TFT-LCD modules.