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Freddie Mac has adopted a new marketing strategy for its Reference Note programme in a bid to provide more transparency to its product and to expand its international investor base. Freddie Mac announced in July that it would adopt a regular issuance calendar for its five and 10 year reference note programme, with the 10 year deals to be issued in March and September. The first 10 year deal in the calendar will be launched shortly - a $4bn issue has been mandated to Credit Suisse First Boston, Merrill Lynch and Morgan Stanley Dean Witter.

Elf Aquitaine added new sparkle to an already bubbling French primary equity market this week when it announced plans for one of the largest corporate secondary share offerings on record.

ARRANGERS SEB signed the Skr1.6bn revolver for Hotellus International on August 31, after increasing it from Skr1.5bn. Coming in as co-arranger is MeritaNordbanken, taking Skr500m, and the participants, taking Skr300m, are LB Kiel and Svenska Handelsbanken. SEB also takes Skr500m.

India A number of international project finance banks are putting together bids for the arranging mandate on the North Madras phase three coalfired independent power project.

India A number of international project finance banks are putting together bids for the arranging mandate on the North Madras phase three coalfired independent power project.

ING has the mandate as sole arranger for a Dfl 3.5bn equity finance package for Vedior NV, which is buying Select Appointments. The deal is split into two parts, worth Dfl 3.15bn and £109m (Dfl 350m). The first part is broken into three tranches. Tranche 'A' is a Dfl 650m equity bridge. Tranche 'B' is a Dfl 2bn share offer consideration bridge. Tranche 'C' is a Dfl 500m working capital revolver.

US retailer Safeway Inc will next week head an expected $30bn to $60bn deluge of US corporate bond paper in the pipeline for September and October, with a planned $1.5bn three tranche issue. The deal, led by Morgan Stanley Dean Witter, is expected to be split into three, five and 10 year paper.

Rating: AAA (Fitch IBCA) Amount: Eu125m (fungible with two issues totalling Eu766.938m launched 25/09/96 and 03/12/96) Öffentlicher Pfandbrief series 79

Argentina Lead arranger Citibank NA has completed a $62.5m 364 day bridge loan for private electricity utility, Empresa Distribuidora Norte SA (Edenor).

The Industrial Bank of Korea (IBK) embarked on roadshows for a $200m-plus three year Eurobond yesterday (Thursday), presaging a key test of investors' receptivity to the autumn pipeline of debt issues from Asia. Although the government owned policy bank has relatively modest ambitions, bankers remained divided as to whether the primary market has regained strength since a disappointing end to activity before the pre-summer break.

Elf Aquitaine added new sparkle to an already bubbling French primary equity market this week when it announced plans for one of the largest corporate secondary share offerings on record.

Bahrain Bahrain International Bank has mandated ANZ Investment Bank, Arab Bank, Arab Investment Company and DG Bank to arrange a $60m credit.