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Rating: Aaa/AAA Amount: Eu500m Öffentlicher Pfandbrief series 822

Syndication of Gazprom's $300m six year facility has been closed and will be signed on April 22. HVB Group is mandated arranger for the deal and DePfa Investment is a joint arranger.

Guarantor: RWE AG Rating: A1/AA-

The $250m five year facility for Arab Petroleum Investment Corp (Apicorp) is due to be launched into the market on April 22. Banks close to the deal are HSBC, Sumitomo, Crédit Agricole Indosuez, Gulf International Bank and Riyad Bank. Apicorp last tapped the market in July 2000 with a $200m five year facility that paid a margin of 40bp over Libor. Barclays Capital, Dresdner Kleinwort Wasserstein, Mizuho and Saudi American Bank have arranged a $900m nine year loan backing the leasing of the Saudi Arabian ministry of defence & aviation's military compounds around Jeddah. The borrower is Compound Leasing Company, which has long term rental agreements with the ministry for the facilities. These agreements form the security for the loan.

Siemens has increased the limit off its debt issuance programme to euro5 billion ($4.45 billion) from euro3.5 billion. Barclays Capital and UBS Warburg have been added to the dealer panel while Nomura has been dropped as a dealer. The shelf, which was signed in 1995 via Morgan Stanley, has $1.69 billion outstanding off eight trades.

Bank Austria and BayernLB launched a Eu40m five year facility for Banka Celje into general syndication on Wednesday. Arrangers are understood to be participating for tickets of Eu5m.

Arranger DBS has launched a $180m facility for Shanghai Hua Qing Real Estate Development. The office retail development project comprises a 15 storey office building and a seven storey retail podium. The facility is divided between an $80m three year term loan and a $100m three year standby LC.

Bankers at institutions with strong ties to South African Breweries (SAB) are playing their cards close to their chests and have not released more information on a possible debt facility for the listed corporate. South African Breweries recently announced that it was interested in buying US brewer Miller. Because the bid has not been confirmed bankers do not want to reveal details of SAB's new, potential financing.

EuroWeek understands that Spain's fourth largest vertically integrated utility Hidroelectrica del Cantabrico ,together with its main shareholders EnBW and Electricidade de Portugal (EDP), is in discussions with relationship banks about a new debt facility. In December 2001 the EU approved shareholder stakes in Hidrocantabrico as follows: EDP with 40%, EnBW with 35%, Cajastur holding 17% and Caser taking 8%.

Amount: $33m Rating: BB+

The spread-widening tendency prevalent at the end of last week and the start of this, was stopped in its tracks on Wednesday. Dollar swap spreads were back to the lows of the recent range, with the five year at a mid-market of 59bp while the 10 year was at 63.5bp. On Monday, the five year had been bid out to 62.5bp and the 10 year to 67bp amid a widespread feeling that the corner had been turned. These prices were at least 5bp north of the lows seen this month.