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5770

Iceland ABN Amro has won the mandate to arrange a $30m facility for the City of Hafnarfjördur.

A VARIETY of new equity issues from large and small cap companies is poised to hit the German equity market. Despite the corrections suffered by most markets this week on the back of Brazil's economic crisis, bankers in the local market and in London say that the flow of deals should continue undaunted, especially if the continent's stockmarkets recover their losses. The German market greeted 1999 with sharply rising indices with the Dax trading at around 5,200 on December 31, up from a year low of 3,896. By yesterday (Thursday), the index had sagged to around 4,900.

* Landwirtschaftliche Rentenbank Rating: Aaa/AAA

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Sterling --------------------------------------------------------------------------------

UNCERTAINTY continues to surround the timing of the £2.65bn debt financing for the Channel Tunnel Rail Link, with bankers becoming increasingly frustrated by the lack of information on offer about the transaction. "It is ominously quiet," said one London syndicate manager. "We are getting absolutely no guidance whatsoever," said another.

* Nederlandse Waterschapsbank Rating: Aaa/AAA

ABBEY National marked a significant step towards the development of a liquid euro FRN market this week when it launched a groundbreaking Eu2bn floater. Priced at a discount margin of 4bp over Euribor, the three year deal is the largest floater yet launched in the new currency as well as the largest ever private sector Eurobond, making it an important new benchmark in the market.

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JOINT arrangers ABN Amro and WestLB will sign the $50m (increased from $40m) 364 day term loan for United Garanti Bank International (UGBI) on January 19. Syndication of the quietly arranged facility was well supported and an oversubscription was achieved before the Christmas break. The loan carries a margin of 85bp over dollar Libor and co-arrangers are Chang Hwa Commercial Bank and First Union National Bank.

Angola Warburg Dillon Read has launched syndication of the $500m oil contract pre-export financing for Sociedade Nacional de Combustiveis de Angola (Sonangol).