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Crédit Lyonnais has won the mandate to arrange a £100m multi-currency term loan and revolver for Continental UK Group Holdings. The facility carries a tenor of five years and is split into two tranches: tranche 'A' is a £80m term loan and tranche 'B' is a £20m revolver. The margin is 45bp over Libor and there is a commitment fee of 20bp. The loan will be offered to relationship banks of the company for take and hold commitments of £15m. The loan benefits from an unconditional guarantee from parent company Continental AG, which is one of the leading automotive systems suppliers and is ranked second in Europe and number 10 in the world.

Globals * Delphi Automotive

* Deutsche Verkehrsbank Rating: A3/A-

The primary market was relatively light this week as underwriters prepare for the new issuance bonanza expected this month, taking a brief break from the record breaking dollar corporate issuance of May. Nevertheless, the dollar market provided opportunities for several issuers to bring Eurodollar bonds to satisfy demand for top quality debt at the short end of the market.

Callahan Nordrhein-Westfalen (CNW) brought relief to the cable sector of the high yield market this week, when it sold a Eu300m 10 year non-call five transaction at a yield of 14.125% via Merrill Lynch and Schroder Salomon Smith Barney (SSSB). The transaction is one of the first in the cable sector since CNW's last issue, a 14% 10 year non-call five deal launched last July. The strength of demand for the new issue was demonstrated by pricing close to the yield on the outstanding CNW paper, which was trading at around par.

Railtrack's plans to raise £2bn-£3bn in the bond markets are well advanced, and should consist of dollar, euro and sterling issues later this year, according to a company spokesman this week. "At the time of our preliminary results released last week, we announced that we needed to borrow £2bn-£4bn over the next two years," he told EuroWeek. "Our plans are well advanced for a sterling, euro and dollar debt programme, which will probably take the form of a bond issue of £2bn-£3bn to be launched in the late summer or early autumn."

CIBC and Merrill Lynch are set to keep the leveraged market on the boil with the launch of the £885m senior debt and £75m senior mezzanine facilities backing Nomura's $1.9bn purchase of the Compass Group's Le Méridien hotel chain. The chain consists of 146 hotels including Grosvenor House in London and the Waldorf chain. The Méridien hotels will be merged with Principal Hotels, which was acquired in February this year for £225m.

Railtrack's plans to raise £2bn-£3bn in the bond markets are well advanced, and should consist of dollar, euro and sterling issues later this year, according to a company spokesman this week. "At the time of our preliminary results released last week, we announced that we needed to borrow £2bn-£4bn over the next two years," he told EuroWeek. "Our plans are well advanced for a sterling, euro and dollar debt programme, which will probably take the form of a bond issue of £2bn-£3bn to be launched in the late summer or early autumn."

Coca-Cola Amatil is set to issue a $20 million note on June 13. The five-year note pays interest semi-annually. It is the issuer's first note of the year.

Coca-Cola HBC will sign a euro2 billion ($1.72 million) Euro-MTN programme this week. Schroder Salomon Smith Barney has scooped the arrangership. The roadshow for the debut bond will begin in London on Monday, June 4. The first issue off the programme is likely to be a benchmark issue of at least euro500 million and of intermediate maturity. Credit Suisse First Boston (CSFB), Deutsche Bank and Schroder Salomon Smith Barney will act as joint bookrunners for the issue. Helen Wilkinson, group treasurer, at Coca-Cola HBC says: "Our debut transaction will be in euro. In the future we will look at various currencies but will always swap back into euro." Wilkinson also identifies the reasons for signing the programme. She says: "We are not raising any additional funds and will be using the debut bond to refinance part of our existing bank debt. About 85% of our underlying assets have a tenor of five years or more. Therefore, over time, we would like the majority of our bank debt to be refinanced with longer maturity public debt through the Euro-MTN facility." The dealers off the programme are the arranger, CSFB, Deutsche Bank and HSBC.

Colombia, anxious to beat any volatility relating to Argentina's debt exchange, made a successful surprise return to the plain vanilla dollar global bond market this week with a $400m five year transaction. The deal, led by Morgan Stanley, is Colombia's first plain vanilla dollar new issue since January 2000, and its third major foray into the dollar markets this year. Colombia issued a $750m World Bank guaranteed 10 year transaction in April and a $250m re-opening of its 2020s in March.

Colombia, anxious to beat any volatility relating to Argentina's debt exchange, made a successful surprise return to the plain vanilla dollar global bond market this week with a $400m five year transaction. The deal, led by Morgan Stanley, is Colombia's first plain vanilla dollar new issue since January 2000, and its third major foray into the dollar markets this year. Colombia issued a $750m World Bank guaranteed 10 year transaction in April and a $250m re-opening of its 2020s in March.