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India The $75m three year fundraiser for Indian Oil Corp, arranged by ABN Amro, Citibank and Sumitomo Bank, has been closed. The deal was oversubscribed but not increased.

Asia * Compass Master Trust Series 2001-1

Australia Arrangers Citigroup Australia and National Australia Bank have closed the A$300m 364 day term loan for One Steel Finance. The borrower is the steel division of Broken Hill Proprietary Co, Australia's largest resource enterprise.

Autologic, the UK car logistics and services group, announced its intention to raise £51m (Eu82m) via a 13m new share rights issue this week. The announcement came on the back of Autologic's results for 2000, which caused a 4.5 % jump in its share price on Tuesday. The issue will be priced at 400p per share, offering a discount of more than 20% to its current trading price of 502p. The shares will start trading on the London Stock Exchange on April 17.

Arrangers Deutsche Bank and Standard Bank have signed banks into the R700m equivalent ($86m) mining project financing for Avgold Limited, South Africa’s fourth largest gold company.

The bond market is preparing to absorb more jumbo issuance from telecoms companies in the coming fortnight, with KPN and Telecom Italia poised to launch Eu2bn and Eu5bn issues respectively. KPN's transaction, to be priced next week by ABN Amro, Barclays and CSFB, is expected to include a five year tranche priced at mid-swaps plus 245bp-255bp and a 10 year at 275bp-285bp, in line with the Dutch telco's default swap levels.

"Allianz to buy Dresdner Bank?" We were dining quietly in Chelsea with a group of bankers when everyone's mobile started to shrill at the same time. Thank heavens that foie gras can't go cold. Our first reaction was that this deal does not win any brownie points for originality. Allianz already owns more than 20% of Dresdner and lots more through cross-shareholdings. Allianz has tried to find a solution for Dresdner through attempted mergers with Deutsche and Commerzbank and failed on both occasions. Now Allianz looks as if it may take Dresdner for itself. There is some logic in this strategy. Dresdner is a much better bank than it was two years ago but it needs a push to propel it into the premier division. With Allianz's financial muscle, Dresdner could become the European answer to Citigroup. In investment banking Allianz-Dresdner could clean up in Germany thanks to Allianz's stranglehold on German industry. At once Dresdner would become the most powerful bank in Germany. We suspect that our friends at Deutsche will be holding emergency meetings this weekend.

Bayerische Landesbank has signed a euro20 billion ($17.73 billion) CP programme. The issuer is the arranger and sole dealer.

Plans unveiled by Bavaria and the Bavarian Association of Savings Banks to remove the public support mechanisms enjoyed by Bayerische Landesbank (Balaba) have been welcomed by the market this week, with analysts saying the announcement has increased the pressure on other Landesbanks to restructure. Under the Bavarian plan, the public support mechanisms of Anstaltslast and Gewährträgerhaftung would be removed when the ownership of Balaba is transferred to a financial holding company owned by the state and its savings banks.

Dresdner Kleinwort Wasserstein (facility agent) and UBS Warburg (bookrunner) launched the syndication yesterday (Thursday) of the $4.3bn of loan facilities supporting the $17.6bn acquisition of De Beers, the world's best known and largest diamond producer, by DB Investments. The $4.3bn of debt is structured into two tranches. Tranche 'A' is a $3.3bn five year amortising term loan, while tranche 'B' is a $1bn five year revolving credit. Both tranches pay an initial margin of 100bp over Libor, and through the life of the loan margins ratchet according to net debt to Ebitda.

EuroWeek hears that Banque du Caire has mandated ABC and Fuji Bank to arrange a $300m three year term loan. Further details will be available next week.