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Senior syndication of the debt facility backing the Eu1.1bn buy-out of Italian cheese and salami business Galbani from French food company Danone will be closed oversubscribed. Arranger JP Morgan will launch the deal into general syndication next week.

Senior syndication of the £680m acquisition facility for Johnston Press is heading for an oversubscription. Described by observers outside of the arranger group as a "smashing deal" and one that is "neatly structured, reasonably priced and is an old fashioned underwrite," the facility is due to be wrapped up next week. Arrangers Deutsche Bank and Bank of Scotland have invited sub-underwriters to join the deal for a commitment of £75m with a final intended take of £35m.

Bidding is under way for Kazakhstan Development Bank's $25m six month facility. The facility has a maturity of six months with a six month rollover option. The mandate is due to be awarded next week and the facility will be used for general corporate purposes.

Danske Bank launched a £30m debut three year revolving credit facility for Kent Reliance Building Society into syndication on Wednesday. Co-arrangers have been asked to commit £7.5m for 12.5bp and lead managers are asked to commit £5m for 10bp.

Guarantor: Kreditanstalt für Wiederaufbau Rating: Aaa/AAA

Kreditanstalt für Wiederaufbau's (KfW) hard work with US investors paid off yesterday (Thursday), when about half of its $3bn three year global - the second deal under its new dollar issuance regime - was sold into the US. Bookrunners HSBC, Lehman Brothers and Morgan Stanley priced the deal at a tight 91bp over Treasuries, and it held well after the break.

Rating: Aaa/AAA Amount: Eu1.5bn (increased from Eu1bn)

Rating: Aa3 Amount: Sfr250m

Arrangers Korea Development Bank, Hana Bank, Arab Bank and Export-Import Bank of Korea have launched an $80m one year term loan for SK Global (Asia Pacific), guaranteed by the parent SK Global. Banks joining the deal will receive a margin of 110bp over Libor. Fees to the market are at three levels. Co-arrangers pledging $10m or more will earn 45bp, lead managers taking $5m-$9m receive 42.5bp, and senior managers lending $4m or less earn 40bp.

Amount: Eu1.5bn Maturity: April 17, 2007

EuroWeek understands that three venture capital houses have gone through to the final round of bidding for car maintenance business Kwikfit, is being sold off by Ford as part of its restructuring plan. The sale was announced in January 2002. Ford - which bought Kwikfit, three years ago for $1.6bn - hopes to raise some $1bn from the sale. However, the market has expressed doubt that the sale will raise the asking price. "There is a gap between seller and buyer at the moment," said one London banker. "I don't see Kwikfit selling for more than $800m."