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outh Africa BoE Bank and its relationship banks are discussing refinancing a $130m one year term loan signed in November 2000.

Hong Kong Arranger WestLB has launched a HK$150m facility for Peace Mark (Holdings), a manufacturer and retailer of quartz watches and other timepieces.

Europe * Absolute Funding Srl

Australia Arrangers Bank of America and Dresdner Bank have underwritten a A$602m five year debt package to support Babcock & Brown's A$825m 50 year concession to run the Dalrymple Bay Coal Terminal (DBCT) at Port of Hay Point in Queensland, Australia.

Attica Enterprises, the Greek ferry company, launched a Eu45m convertible issue yesterday (Thursday). Lead Alpha Bank has gone out to the market with a fixed price on the three-year bond, offering a yield to maturity of 6.2%, priced at par. It offers a 3.25% coupon, a redemption price of 109.6, and a conversion premium of 33.02%. The bond also has four call dates in place.

* Bank Nederlandse Gemeenten NV Rating: Aaa/AAA/AAA

Aventis has increased the debt capacity of its euro1.5 billion ($1.35 billion) Euro-MTN programme to euro2.5 billion.

"How do you get your inside information on Merrill Lynch?" This was the question we have been asked repeatedly in the past week as some of our predictions began scoring more bull's eyes than Robin Hood on a Saturday afternoon on Nottingham Green. Regrettably the truth is far less exciting. We don't have any secret sources. Yes, we did have a tentative meeting planned with David Komansky, Merrill's chairman and chief executive, who was on a fleeting visit to London, but in the end we could not be fitted into the great man's hectic schedule. We rely mainly on our Indian scouts in New York, under the leadership of Hawkeye (that's a pseudonym) and then there are the deep throats at Deutsche Bank who emigrated from Merrill as soon as the late Edson Mitchell raised his standard.

The Bank for International Settlements (BIS) has asked banks for replies to a working paper put out this week on its regulatory approach to project finance and related activities. The input it receives will form the basis of how project finance will be treated in the new Basle Capital Accord, Basle II, that will be implemented in 2004-2005.