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* Nomura Global Funding Guarantor: Nomura Securities

AFTER A turbulent four months, bankers are noticing subtle signs that the European leveraged loan market is making a comeback. This new found confidence has been particularly noticeable in the finance facility backing the LBO of Via Nova by Morgan Grenfell Private Equity from Hoechst AG. Bankers say that this facility, as well as a new batch of deals that is coming through, are priced and structured sympathetically to the present bear market's needs.

Hong Kong Standard Chartered Bank is coordinating a HK$500m revolver for Castle Peak Power Co, electricity supplier to Hong Kong's CLP Power.

TOYOTA Motor Credit Corporation launched its first ever global bond this week in an attempt to reset its trading level for the institutional investor base. The launch comes barely a month after its spreads had ballooned in the secondary market -- and some bankers felt that the issuer, one of the top corporate credits in the international bond market, had sold itself short. TMCC spreads have been badly hit by the correction since July. Although its operations are purely based in the US, the auto finance company's Japanese parentage had caused its spreads to widen to levels more akin to single-A issuers such as GMAC and Ford than Aa1/AAA rated TMCC.

ARRANGER Barclays Capital has finally closed the reduced term loan for the National Oil Distribution Company (Nodco) expansion and upgrade transaction through German relationship banks of Lurgi, the project's chief contractor. Barclays underwrote the entire $850m of project debt earlier this year but was forced to pull the deal after a weak reception in the market.