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The letter for the arranging mandate for the Eu2.35bn financing for Saudi Basic Industries Corporation's (Sabic) acquisition of DSM's specialty chemicals business was due to be signed late yesterday (Thursday). EuroWeek understands that around 15 banks - probably including regional affiliates of mandated international banks - will be involved at the top level.

Citigroup/SSSB and BNP Paribas have been mandated to arrange a $200m three year revolver for A rated Harley Davidson Financial Services Europe Ltd. Banks have been invited to join the facility as arrangers taking $25m for fees of 17.5bp or as co-arrangers committing $15m for 12.5bp.

Jimmy Quigley, Merrill Lynch's charismatic former debt manager, is to take on a client facing role across disciplines as head of global client strategies. He also becomes president of Merrill Lynch International and joins the office of the chairman.

Banks invited to join HMV's £425m debt facility attended a meeting and site visit hosted by the company and arranging banks Dresdner Kleinwort Wasserstein and Royal Bank of Scotland yesterday afternoon (Thursday). HMV was bruised by an unsuccessful debut IPO on the same afternoon, but syndicated loans bankers in London seemed fairly positive about the loan (see front page and equities section for more details).

The $280m facility for China Merchant Holdings has received an overwhelming response from the market. Total allocations received totalled $465m and as a result the borrower elected to increase the size of the facility by 40%. The facility is divided between a $140m five term loan/FRN tranche and a $140m seven year term loan/FRN portion.

The mandate to arrange the $25m six month facility for Hungarian Development Bank (MFB) is still to be awarded. Bidding is under way and an announcement is expected next week.

Rating: Aa3/A/A+ Amount: Eu500m Inhaberschuldverschreibung series I5006

Impending supply from Deutsche Telekom, E.On and ABB, which could flood the market with as much as Eu16bn next week, is weighing heavily on the debt markets, despite a sharp improvement in sentiment. Deutsche Telekom is hoping to raise between Eu5bn and Eu8bn in euros and dollars in various maturities without the benefit of step-up language and, despite the aftermath of WorldCom, bankers believe the deal will go ahead.

ABN Amro is preparing to launch the $250m three year fundraising for Sinochem today (Friday). Two Chinese banks have joined the facility as top tier arrangers and one European bank will sign up before general syndication begins.

Compiled by Holger Kron Deutsche Bank, Frankfurt

Coca-Cola Enterprises has dropped Lehman Brothers as arranger and dealer off its $3.5 billion Euro-MTN programme and Deutsche Bank has been appointed as the new arranger. The change reflects Deutsche Bank's continued focus on its role as arranger of MTN programmes in a market where many banks are not placing an emphasis on arrangerships. The dealer panel is now ABN Amro, BNP Paribas, Credit Suisse First Boston, Deutsche Bank, HSBC, Morgan Stanley and Schroder Salomon Smith Barney. Deutsche Bank has a track record of edging other banks out of the arrangership seat. In August 2000 it replaced JPMorgan as arranger on Imperial Tobacco's and Telenor's Euro-MTN programmes, and before that it replaced the same US bank as arranger on 3CIF's Euro-MTN programme. It also replaced Merrill Lynch as arranger off Vattenfall's programme in 1998.

The $100m four year facility for Industrije nafte (INA) is being well received by the market. Arrangers for the deal are Mizuho and Zagrebacka banka.