Search results for

Kuwait Arab Banking Corporation, Bank of Tokyo-Mitsubishi and National Bank of Kuwait have won the mandate to arrange a $100m three year term loan for Commercial Bank of Kuwait (CBK).

BARCLAYS, Chase Manhattan, Citibank and Greenwich NatWest have launched general syndication of the $1.25bn working capital facility for National Power, a credit likely to be the last UK jumbo of 1998. The loan consists of a $500m 364 day facility that carries a drawn margin of 27.5bp over Libor and an extra 7.5bp if more than 50% is used with a commitment fee of 10bp, and a $750m five year tranche that carries a margin of 25bp plus an extra 5bp if more than 50% is drawn and a commitment fee of 12.5bp.

6278

KRAKOW has become the first Polish municipality to tap the Euromarkets, launching a DM66m two year floating rate note via Bank Austria Creditanstalt and WestLB. The debut transaction for the BBB- (S&P) rated borrower -- Poland's capital under Austro-Hungarian rule -- featured a coupon set at 100bp over six month Libor and paid a discount margin of 106bp over Libor at the issue/fixed re-offer price of 99.90.

* ABN Amro is merging its emerging markets and debt capital markets directorates to form a fixed income directorate, headed by Alberto Francioni. Jonathan Greenwood, head of emerging markets, will help effect the integration, which will be operational from December 1.

Arranger WestLB will sign the $100m five year bullet for ABC International, the UK subsidiary of Arab Banking Corporation based in Bahrain, on November 27. The facility was reduced from a planned $150m borrowing as a result of difficult market conditions. Speculation continues that the arranger and borrower disagreed on syndication strategy.

* International Finance Corp Rating: Aaa/AAA

US$ FRNs * Australia & New Zealand Banking Group Ltd

THE underwriting phase of the debt finance facility backing the LBO of Via Nova by Morgan Grenfell Private Equity has closed oversubscribed. Lead arranger BT Alex Brown was joined by seven banks at this level. They are Royal Bank of Scotland, JP Morgan, WestLB, Crédit Lyonnais, HypoVereinsbank, Paribas and Dresdner Bank. They were offered a choice of investment -- DM100m and DM75m -- but all took the higher ticket.

6373

Belgium Banque Nationale de Paris (facility agent) and Citibank (bookrunner and documentation agent) have launched the $750m revolving credit for Tractebel into general syndication.

CHARGEURS, the French wool trading and processing company, this week completed a highly innovative $201m securitisation of its revenues, sole managed by Merrill Lynch. The deal takes a whole slice of Chargeurs' business off balance sheet, freeing the company to make capital investments. "This is not so much a financing as a corporate finance transaction," said Dorian Klein, managing director in Merrill's European structured finance group. "Chargeurs has used securitisation to transform the structure of its business."