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South Africa South African Reserve Bank is close to mandating 10 banks to arrange its $1bn three year cash loan, and five banks to arrange its $500m three year gold loan.

As reported in the last edition of Euroweek, Airtel Móvil has selected BSCH, Citibank and Commerzbank to arrange a Pta230.25bn or Eu1.383m performance guarantee loan. The loan has been fully underwritten among the three, and launched to a preliminary round of syndication this week. BSCH is facility agent, and all three are bookrunners.

Hong Kong The Hong Kong dollar fundraising for Dairy Farm International Holdings, arranged by ABN Amro, Chase Manhattan Asia and Standard Chartered, is set to launch next week.

Europe * Earls Four Ltd Series 341

Australia Lead arrangers ANZ Investment Bank, Citibank (Australia), Commonwealth Bank of Australia, Deutsche Bank Australia and Westpac have launched a A$500m dual tranche facility for Pulse Energy.

Never let it be said that we would resort to using inside information, but three weeks ago we did suggest that Hansgeorg Hofmann, former head of Dresdner's international division and a member of the Vorstand, might be preparing to return to the centre stage. High time too in our opinion, because here is a German banker with real talent (they are not always made that way in Germany) who has been totally cleared of some minor tax evasion allegations from several years ago. In 1998 we recommended to Paribas, which was still independent at the time, that it should ask Hofmann to take over its entire investment banking group, which was stuck in neutral and clearly in need of a change of oil.

Market report: Compiled by Glenn Blackley,

The Eu200m Neuer Markt IPO of online retailer bol.com will be the first major test of investor sentiment toward business to consumer (B2C) internet companies since the widely derided listing of lastminute.com. Dresdner Kleinwort Benson is lead manager for the sale of between 20% and 25% of the company. All the shares sold will be new equity, and German media giant Bertelsmann will retain a majority stake. Bertelsmann holds 100% of the company.

The Eu200m Neuer Markt IPO of online retailer bol.com will be the first major test of investor sentiment toward business to consumer (B2C) internet companies since the widely derided listing of lastminute.com. Dresdner Kleinwort Benson is lead manager for the sale of between 20% and 25% of the company. All the shares sold will be new equity, and German media giant Bertelsmann will retain a majority stake. Bertelsmann holds 100% of the company.