Search results for

The first stage of syndication was launched this week on international debt tranches of the largest telecoms project financing seen in the Middle East and African region, the Eu1bn equivalent loan facilities for Médi Télécom arranged by ABN Amro, BMCE, International Finance Corporation (IFC) and SG Investment Banking. The multi-sourced debt programme compromises various elements. The export credit agency (ECA) portion of the deal consists of two ECA facilities, backed by Swedish agency EKN and the Spanish agency CESE, in support of equipment procurement from Sweden, Spain and Portugal, totaling Eu200m.

* Lehman Brothers has recruited a team of eight in German investment banking from DLJ. The team includes two managing directors, Rolf Gerner and Florian Meister, who together will co-head German investment banking. Six directors and associates also join.

Turkey Ishbank and Telecom Italia are looking for around $2.5bn to finance their $2.25bn purchase of Turkey's third GSM licence. The two formed a consortium to take the licence earlier this year.

Denmark Genmab had a difficult first week of trading following the completion of its Kr1.4bn IPO last week The stock listed on Wednesday and closed down more than 10% at Kr235 from an issue price of Kr260. Yesterday (Thursday) it recovered to close at Kr255 - still below issue price.

Market report: Compiled by Gerard Perignon, RBC DS Global Markets, London Tel: +44 20 7653 4557

EGYPT The Arab Republic of Egypt sent out requests for proposal this week to 15 banks for its debut international bond issue. It is looking for $500m in maturities of between five and 10 years.

Nordic Baltic Holding (NBH) has bought the Norwegian Government Bank Investment Fund's (GBIF) 34.64% stake in Norway's second largest bank, Christiania, subject to regulatory approval. Nordic Baltic Holding is the parent firm of MeritaNordbanken plc, which owns Unibank, Nordbanken and Merita, and of Tryg-Baltica, owner of Tryg-Baltica Insurance and Vesta.

* Cregem Finance NV Guarantor: Dexia Bank (Brussels)

Despite strong demand from both retail and institutional investors, Cableuropa, Spain's largest cable and internet service provider (ISP) operating under the brand name Ono, has postponed its Eu260m-Eu325m IPO. The company, due to list on the Nuevo Mercado on Tuesday, cited market volatility and falling technology share prices in its decision to postpone the IPO.

Unicredito and Merrill Lynch began bookbuilding for the $420m secondary sale of Bank Pekao this week, which will dispose of almost all of the Polish government's remaining stake in the company and raise new money for the company. A maximum retail price of Z54 was set on Tuesday for the offer. Yesterday (Thursday) the stock closed at Z54.60. "The stock has rallied since the deal was launched," explained one banker, although he acknowledged that the sale was unlikely to attract non-Poland specialists.

The City of Palermo, the capital of Sicily, intends to visit the international bond markets early next year, following the assignment of its Aa3 rating by Moody's. Palermo now enjoys the same rating as Italy and is better rated than the Region of Sicily, which is rated A1 by Moody's. Palermo will become the fourth Italian city to make an appearance on the international stage, after Florence, Naples and Rome.

* Bayerische Handelsbank AG Rating: Aaa/AAA/AAA