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* European Investment Bank Rating: Aaa/AAA

WHO IS Billy Johnson at Warburg Dillon Read? Yes, we had never heard of him either. We know all about Billy the Kid, Billy Carter, Billy Joel, Billie-Jean King and Billy the Goat but Johnson had never crossed our screen.

India Co-ordinating arrangers ABN Amro Bank and Credit Suisse First Boston are finalising the structure of the $600m debt portion of the $2bn project financing for Dabhol Power.

SPANISH corporates and the government are set to take advantage of the recovery in sentiment throughout global equity markets by selling new shares early next year. The government has announced its intention to sell its 66% holding in Indra electronics, owned through its holding company, Sepi. Although the government may maintain a golden share in Indra because of its strategic importance as a defence contractor, the offering will still ensure a sizeable and liquid float in Madrid.

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* International Finance Corp Rating: Aaa/AAA

Argentina The $125m three year loan-style FRN for Yacimientos Petroliferos Fiscales SA (YPF) was signed on November 3. Arrangers Dresdner Bank Luxembourg, Warburg Dillon Read and Barclays provided $25m apiece. Bank of Tokyo-Mitsubishi Ltd joined as a co-arranger at $20m.

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* The World Bank approved two loans for Argentina this week, totalling $3bn, as part of a multi-lateral agency effort to give the country the financial cushion to avoid any future contagion from Asian-style crises. The loans include a so-called Special Structural Adjustment Loan (SSAL) of $2.5bn and a special repurchase facility support loan of $505m. After Colombia, Argentina is the second country to receive an SSAL -- a new type of financing put together by the World Bank in reaction to the current global financial turmoil.

THE INTER-American Development Bank sought to develop a greater following among US investors this week when it launched a $1bn global bond via JP Morgan and Morgan Stanley Dean Witter. The issue was aimed at providing a platform for the IDB's expanded borrowing programme over the next two years. Largely prompted by the need to contribute to recovery programmes for Latin American countries hit by the financial crisis, the IDB expects to increase borrowing in 1999 to $9bn, from a planned $4bn.

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Qatar Responses from potential co-arrangers are due in next week on the $475m Qatar Vinyl Company (QVC) project financing. Market talk suggests the re-priced deal will achieve a strong oversubscription, with bankers impressed by the new margin and fee levels.