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Mandated arrangers Citibank/ SSSB, Credit Suisse First Boston and HSBC Investment Bank will today (Friday) launch a $4.5bn debut syndicated revolving credit facility for Syngenta AG. The facility will be split into two tranches. Tranche 'A' is a $2bn 364 day revolving credit with a one year term-out option and tranche 'B' is a $2.5bn five year revolver.

Uruguay ensured a successful debut in euros this week by pricing a Eu225m issue attractively for an investor base wary of high yielding credits following the recent sell-off in European telecoms deals. The five year 7% deal, led by CSFB and Schroder Salomon Smith Barney, was increased from Eu200m and priced at 99.49 to yield 7.125% or 195bp over the Bobl and 185bp over the Btan, compared with a price talk of 195bp-205bp over the Bobl.

* Barclays Bank plc Rating: Aa2/A+

Telefónica's foray into the bond markets exceeded expectations yesterday (Thursday) when the Spanish incumbent raised $6bn from investors, with each of the dollar tranches increased by 25%. Bankers said the success of the transaction opened the window wider for other telecoms names, and had helped banish concerns that the large supply now entering the market might fail to find adequate support.

* Fleet National Bank Rating: A1/A+/A+

France The Eu1.52bn and Eu312.5m facilities for French outdoor advertising agency JC Decaux and holding company JDCI were launched into general syndication after a well attended bank meeting this week. Arrangers are Goldman Sachs, Barclays, BNP Paribas and HSBC/CCF.

Westland/Utrecht Hypothekenbank has upped the ceiling of its euro5 billion ($4.3 billion) debt issuance shelf to euro7.5 billion. The issuer has also added itself as a dealer.

What is it about banks that dish out huge salaries to MTNers? No sooner had DLJ offered obscene amounts of money to Luca Favero to move from Lehman, than it announced its merger with CSFB. And although Garrath Fulford has been in the ludicrously overpaid Chase job for only a few weeks, he is now off to turn the fab four at JP Morgan into the famous five. But Leak can't really see the jolly Morgan gang of Rupert Lewis, Gayle Turner, Rob Stoole and Connor Gallagher having much time for the Chase upstarts. Don't be surprised if, after the dust settles, Rupert pitches up somewhere other than MTNs. Leak suspects that there are only so many power reverse duals the star of Leak 99 can take before bigger and better things beckon. If this pattern continues Dresdner will be the next bank to partake (at last) in a successful merger. Henry Nevstad, come on down. After three years at Tiina Lee's side at Deutsche, the time has come to run a desk of your own. Dresdner is perhaps an odd choice for the young Norwegian. But we hear Henry is to be paid a telephone number salary and is bringing another dealer with him. Watch this space. But where does this leave poor old Jon Saunders who has steered Dresdner through some rough and rocky waters over the last year? We gather that though he is staying at the bank he will probably bid a sad farewell to MTNs after many years of dutiful service.

The Lebanese Republic has put back its planned $500m 20 year global bond issue until December at the earliest, but is considering other financing options in the meantime. The turnabout in its funding plans comes after the change in government following the surprise election victory last week of billionaire former prime minister Rafiq Hariri and Moody's decision to place Lebanon's B1 domestic currency debt rating on review for possible downgrade.

Athlon Group, the Dutch motor company, signed a euro250 million ($214.78 million) Euro-CP programme on Monday, September 4. ING Barings arranges the facility. Athlon is the lowest-rated corporate to enter the market since March 1998, joining only three other European issuers rated A-3 by Standard & Poor's. This has not deterred Athlon's group treasurer, Frans De Jong. He says: "We see our rating as a passport for entering the European capital markets." Athlon will not be going out to promote the programme. De Jong says: "We have very good contacts with our investors and analysts and have decided not to roadshow." He also says, however, that Athlon is more than happy for investors to come and meet the management team. Attached to the programme is a Belgian dematerialized treasury facility. De Jong is a fan of the Belgian market. He says: "The Belgian CP market is quite impressive and has developed faster than the Dutch market." Following Shell Finance, Athlon is the second Dutch corporate to enter the Euro-CP market this year. It operates 36 auto body repair shops in the Netherlands. The dealers are the arranger, ABN Amro and SG. On the dematerialized programme the dealers are Bank Brussels Lambert and KBC Bank.

Macquarie Bank has added Barclays Capital as a dealer to its $3 billion debt instrument programme. The facility can issue both Euro-MTN and Euro-CP notes.