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Lehman Brothers is arranging a £300m senior secured term loan for GSC Partners European Mezzanine Fund. The loan is a multi-currency facility which helps finance the origination of mezzanine loans and other investments by GSC on a secured basis. With an A2/A rating, the loan uses European cashflow, market value technology and other structures to reach an investment grade rating.

Rating: BBB+/BBB+ Amount: $325m (increased from $300m)

Rating: Aa1/AA/AAA Amount: Sfr300m

For the first time since 1998, Tremont Advisors, the US-based investment research firm, has found that long/short equity hedge funds suffered a net loss of assets in the first quarter of 2002. While the research showed that convertible arbitrage and event-driven investment strategies remained popular with investors, the more traditional long/short strategies have suffered.

Amount: Eu1.83bn Maturity: August 31, 2007

Amount: Eu548m Maturity: August 31, 2007

Amount: Eu546m Maturity: August 31, 2007

Dresdner Kleinwort Wasserstein and Royal Bank of Scotland received some chunky late commitments for HMV's 425m debt facility this week. Credit committees have taken a long time to assess the media company's new facility which was launched against the backdrop of HMV's unsuccessful IPO in early May. However, despite an initially slow response the commitments submitted this week were encouraging.

Arranger Lloyds Bank has invited banks to attend a meeting on Monday for the £190m refinancing of the £130m deal signed for Holmes Place in 2000. The terms and conditions of the new deal are almost identical to the original transaction. That deal was divided into a £100m five year term loan which paid 187.5bp over Libor and a £30m five year revolver. The margins are tied to a net debt to Ebitda grid.

Arrangers ING Bank and Rabobank (Hong Kong) have won the mandate for a $74m 5-1/2 year term loan for Florens Container, a wholly owned subsidiary of Cosco Pacific. Arrangers Bank of China, HSBC, Citic Ka Wah Bank and ICBC have launched a HK$3.5bn eight year facility for Western Harbour Tunnel.

Dreieck Leasing, one of the largest and oldest leasing companies in Switzerland, last month carried out a private securitisation of equipment leases that could be brought to the public market next year. Some Eu162m of leasing contracts were securitised with Dreieck's parent company, Banca del Gottardo de Lugano, and SG. SG took on Eu150m of variable funding certificates rated triple-A by Standard & Poor's through an SG sponsored conduit. Banca del Gottardo is holding the remaining notes, which are rated triple-B.

Bank of America last week (Friday) returned to its Helix programme with a trio of collateralised debt obligations totalling Eu2.9bn. Since April 2001 the bank has been a regular issuer in both the public and private markets under the Helix programme, designed to free up trading limits on its books.