Search results for

Jordan Bank bids are due in next week for the arranging mandate for the financing of the network build out of Jordan's second GSM mobile telecoms licence by the MobilCom consortium. Around 12 banks are understood to be preparing bids.

Competitive local exchange carrier CompleTel Europe made the most of difficult markets yesterday (Thursday) with a Eu200m offering of 10 year bonds via Goldman Sachs. The deal was reduced due to continuing volatility among technology stocks, but by taking advantage of a recovery on Nasdaq on the day of pricing, CompleTel was able to increase the revised transaction size.

Co-ordinators BOCI Capital, BNP Paribas (Hong Kong), Barclays and HSBC Investment Bank Asia have extended the deadline for commitments for the $12bn fundraising for Pacific Century Cyberworks until midnight tonight (Friday) Hong Kong time. The deal has already received substantial backing and the co-ordinators say it is heading for a tremendous oversubscription. Most of the commitments so far received have come in at the top level, encouraging more banks to commit.

* A team of six analysts and one sales specialist are joining Salomon Smith Barney from Dresdner Kleinwort Benson to form an equity research team to cover the utilities sector. They will report to Richard Dale and Michael Crawshaw, managing directors and co-heads of European equity research. Tony White joins as a managing director. He was global co-ordinator for utilities research at DKB. Peter Atherton will join as a director. Guy Farmer marketed pan-European research for DKB and will join as a director. Daniel Martin and Martin Young join as European utilities analysts. Simon Edric has been appointed vice president and Sven Strasser joins as an associate.

INVESTORS opted for the old economy over the new in the Netherlands this week with a sale of Royal Dutch shares proving successful while internet incubator Newconomy had to postpone its IPO. ABN Amro Rothschild and Dresdner Kleinwort Benson completed the long flagged sale of Royal Dutch Petroleum shares with a Eu496m placement following the break-up of holding company Dordtsche Petroleum.

Market report: Compiled by Glenn Blackley,

SEVEN banks have underwritten a $3.6bn debt financing for packaging company Rexam, which has made an agreed bid for American National Can Group. The seven are ABN Amro (documentation), BNP Paribas, CSFB (documentation), Citibank, HSBC, Lloyds TSB (agent) and WestLB. The facility is divided into a $1.6bn 364 day tranche and a Eu2bn five year tranche.

INVESTORS opted for the old economy over the new in the Netherlands this week with a sale of Royal Dutch shares proving successful while internet incubator Newconomy had to postpone its IPO. ABN Amro Rothschild and Dresdner Kleinwort Benson completed the long flagged sale of Royal Dutch Petroleum shares with a Eu496m placement following the break-up of holding company Dordtsche Petroleum.

SOUTH AFRICA's dominant telco, Telkom, completed its debut Eu500m five year bond issue late last week through lead managers Dresdner Kleinwort Benson and Salomon Brothers International. Offering a healthy yield pick-up on other triple-B rated telcos, the deal overcame volatile market conditions, raising more than had been expected, to become the largest ever African corporate issue.

Denmark LB Kiel is arranging a Eu50m five year revolver for Midtbank.

Market report: Compiled by Vusi Mhlanzi,

* Bradford & Bingley Building Society Rating: A1/A+ (Moody's/Fitch IBCA)