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Engineering group ABB Ltd has mandated Citibank (joint bookrunner) and Credit Suisse First Boston (joint bookrunner and facility agent) to arrange its debut credit, a $3bn 364 day revolver. The deal was launched at a bank meeting in Zurich yesterday (Thursday). It carries a margin of 25bp over Libor. This ratchets in line with ABB's Standard & Poor's/Moody's ratings as follows: A+/A1, 27.5bp over Libor; A/A2, 30bp over Libor; A-/A3, 35bp over Libor. ABB is rated AA- by Standard & Poor's and Aa3 by Moody's.

South Africa The $100m one year facility for BoE Bank was launched into syndication on Monday November 12.

Algerian oil company Sonatrach this week secured a $50m loan via the Arab Investments Corporation (Apicorp) and the Arab Investment Company. The loan coincides with intensifying disputes between Opec and Russia that have caused the oil price to plummet. The commodity fell to a low of $17.15 on the NYMEX yesterday evening (Thursday) - a level the market has not seen since 1999.

The European Investment Bank's EARNs programme was revitalised this week when the supranational proved that it could respond to the needs of investors by offering a Eu5bn five year global bond that was priced to clear after a careful premarketing and bookbuilding process. But at the same time, the EIB's management could take heart from the funding level achieved. The re-offer level of around mid-swaps minus 8bp was in line with a group of second tier European sovereigns, inside the borrower's EARNs curve, and almost flat to Kreditanstalt für Wiederaufbau's benchmark issuance.

The European Investment Bank's EARNs programme was revitalised this week when the supranational proved that it could respond to the needs of investors by offering a Eu5bn five year global bond that was priced to clear after a careful premarketing and bookbuilding process. But at the same time, the EIB's management could take heart from the funding level achieved. The re-offer level of around mid-swaps minus 8bp was in line with a group of second tier European sovereigns, inside the borrower's EARNs curve, and almost flat to Kreditanstalt für Wiederaufbau's benchmark issuance.

Colombia * Republic of Colombia

Jumbo loans for European telcos, such as the facility for Wind, are facing tough market conditions, as bankers become wary of their exposure to the sector and are shying away from deals they would normally join. The 20 or so banks that joined general syndication of the Eu5.5bn loan for Wind will be signed in before the end of November.

Espirito Santa Investment has added Banco Espirito Santo de Investimento as a dealer to its euro500 million ($441.67 million) Euro-MTN programme. The facility has 607.88 million outstanding off 33 trades.

Jumbo loans for European telcos, such as the facility for Wind, are facing tough market conditions, as bankers become wary of their exposure to the sector and are shying away from deals they would normally join. The 20 or so banks that joined general syndication of the Eu5.5bn loan for Wind will be signed in before the end of November.

* Alliance & Leicester Group Treasury plc Guarantor: Alliance & Leicester plc

* CGNU plc Rating: Aa3/A

A fairly quiet day in the Euromarket was enlivened by Lehman Brothers Holdings who closed four notes for euro49.99 million ($44.73 million) in total. Three of the trades were for euro8.33 million each and pay annual coupons of 1.400%. The larger trade was for euro25 million and carries a zero interest payment frequency. Two issuers went out for just six months. Volvo Treasury did a euro41 million note via ABN Amro. The plain vanilla note carries a coupon of 3.405%. And GMAC International Finance closed a euro26 million note that pays a single coupon of 3.605%. Credit Lyonnais Finance was the only issuer looking for volume. It closed a five-year euro150 million MTN. Parkland Finance looked for lengthy maturity with a euro6 million note that goes out to September 15 2011. The note carries a single interest payment frequency. Elsewhere, Credit Agricole-Indosuez closed a three-year euro5 million MTN and it also did two five-year notes for euro5 million and euro6 million. All three notes carry an annual interest payment frequency. And Bear Stearns followed up its two eight-year euro10 million notes from yesterday with a four-year euro6.80 million note off its $5 billion Euro-Dragon MTN programme.