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Lead arranger Sumitomo has signed banks into the Eu400m EIB guarantee facility for Polish telecoms company Telekomunikacjia Polska Spolka Akcyna (TPSA). The deal has been one of the most striking syndicated loans from the emerging markets in 1999. Launched in July at Eu150m over five years, the deal offered a guarantee commission of 70bp. Arrangers were offered 40bp for commitments of Eu20m, while co-arrangers are offered 30bp for Eu10m.

The Republic of Turkey this week completed a quartet of offerings in euros for this year with the launch of a popular Eu400m three year deal. Deutsche Bank was sole bookrunner on the transaction, completing a hat trick of lead mandates for Turkey euro bonds in 1999 for the German bank.

Euroweek understands that DLJ and Greenwich NatWest will wait until January before launching general syndication of the roughly £160m of senior debt backing the leveraged merger of insurance brokers Lambert and Fenchurch by HLF Insurance Holdings. However, sources have said that the two arrangers will approach selected institutions before the holiday season regarding potential co-arranging roles.

Midweek $1.8bn of 10 year debt was raised in the US domestic and global markets by Bear Stearns, Bank of New York and FleetBoston Bank. The most significant transaction was that of single-A brokerage Bear Stearns, which issued $500m in the global market and quickly upped it to $800m.

* Bank of Fukuoka Rating: A3

VODAFONE AIRTOUCH plc will in the next few days put the final touches to the mammoth credit that will play an integral part in its ground-breaking hostile bid for Mannesmann AG. Depending on the extent of existing debt of both parties, the loan could be as large as Eu30bn — the largest syndicated facility ever.

VODAFONE AIRTOUCH plc will in the next few days put the final touches to the mammoth credit that will play an integral part in its ground-breaking hostile bid for Mannesmann AG. Depending on the extent of existing debt of both parties, the loan could be as large as Eu30bn — the largest syndicated facility ever.

Connie Voldstad has left Merrill Lynch after 11 years to pursue other, as yet unspecified, opportunities. Merrill had tried to persuade him to take a new role at the bank, but his departure came as little surprise to market participants. Widely acknowledged as one of the architects of Merrill's capital markets hegemony, Voldstad was believed to have fallen foul of former Merrill management including Herb Allison. He was appointed to oversee the Wall Street committee set up to bail out hedge fund Long Term Capital Management.

Connie Voldstad has left Merrill Lynch after 11 years to pursue other, as yet unspecified, opportunities. Merrill had tried to persuade him to take a new role at the bank, but his departure came as little surprise to market participants. Widely acknowledged as one of the architects of Merrill's capital markets hegemony, Voldstad was believed to have fallen foul of former Merrill management including Herb Allison. He was appointed to oversee the Wall Street committee set up to bail out hedge fund Long Term Capital Management.

The dollar finally won its battle against the euro yesterday (Thursday), breaking parity against the European single currency for the first time since the new unit was introduced at the start of the year. Although not even a year old, niggling doubts over Europe's economic outlook have made the euro look tired compared to the US currency. Y2K and liquidity concerns have only served to boost the dollar, already rising on the back of the US economy's impressive performance.

Austria Lead arranger Merrill Lynch, with Bank of America as facility agent, have pencilled in early next year for the launch of the Eu120m senior leveraged debt syndication, which backs the LBO of Steiner Industries.

Goldman Sachs and Morgan Stanley Dean Witter have won the mandate for a $300m Nasdaq listing for Malaysian cable and satellite TV operator Astro.