Search results for

SPECULATION was rife this week that the Republic of Turkey is to opt for a legacy currency issue for its first Euromarket transaction in 1999. Market participants say that the B1/B rated sovereign is poised to launch an expected DM200m three to five year offering, possibly as early as next week. Commerzbank has been widely touted as the bookrunner of the proposed issue, but officials at the bank denied that it had been mandated to lead such a bond.

The Euroloan market is set once again to provide the world's M&A boom with a boost with news that it will help finance the British Aerospace (BAe) purchase of Marconi Electronics from GEC. GEC has agreed to sell Marconi for £7.8bn in a deal that is initially a demerger and then a purchase.

* Cregem Finance NV Guarantor: Crédit Communal de Belgique SA

* Australia & New Zealand Banking Group Ltd Rating: Aa3/AA-

FEW DEALS were completed in the US market this week but a host of new names were added to the pipeline of new issues. Several companies revived IPO plans, having delayed their flotations because of last autumn's market upheaval. Credit Suisse First Boston completed the secondary offering of stock for Keebler Foods on Wednesday, raising some $541m for selling shareholders Artal Luxembourg and Claremont Enterprises. Artal reduced its remaining stake in the company through the sale.

UK MOBILE phone company Vodafone is preparing a loan package of up to £5.5bn, the first of a host of corporate jumbo credit facilities poised to hit the European market in the coming months.

UK MOBILE phone company Vodafone is preparing a loan package of up to £5.5bn, the first of a host of corporate jumbo credit facilities poised to hit the European market in the coming months.

THE SWISS market is set to host a number of heavyweight equity issues in the next two months. In line with other continental bourses, Zurich is rapidly appreciating on the back of renewed investor confidence in the region and the huge volumes of liquidity that are still driving most US and European markets. Zurich is also benefiting from the second phase of corporate restructuring that started two years ago, embracing consolidation among most consumer and manufacturing industries. The next leg involves the spin-off of non-core assets by newly merged groups -- either to strategic partners or to institutional investors.

5668

5735

Belgium Dresdner Kleinwort Benson and JP Morgan have launched general syndication of the Bfr24bn non-recourse facility financing the development of KPN Orange, Belgium's third cellular network. A bank meeting is scheduled for January 27 at JP Morgan's London offices.