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  • Argentina Syndication of the $200m 364 day L/C facility being arranged by BankAmerica for Banco Rio de la Plata SA has closed oversubscribed and the deal increased to $300m.
  • Central and eastern Europe's top rated sovereign, the Republic of Slovenia, this week completed the roadshow for its planned Eu400m 10 year offering. The A3/A rated issuer, one of five central and eastern European states negotiating fast track entry in to the European Union, visited Zurich, Frankfurt, Milan, Paris and London. Joint leads Credit Suisse First Boston and Morgan Stanley Dean Witter reported a positive reception from the target audience of European fund managers.
  • * Commerzbank AG Rating: Aa3/AA-
  • * Alliance & Leicester Group Treasury plc Guarantor: Alliance & Leicester plc
  • * Abbey National Treasury Services plc
  • Issuer Amount Mty Issue price Re-offer Coupon Books Payment
  • Union Bank of Estonia (UBE) has become the first central and eastern European bank to raise funds in euros. Last Friday the Baa3/BBB- rated bank issued a Eu50m three year floating rate note via Lehman Brothers.
  • n Tim Skeet has joined Dresdner Kleinwort Benson, where he will head a new global financial institutions group in the firm's debt capital markets origination division. Skeet is highly experienced in covering financial institutions, having left the origination division at Lehman Brothers at the end of last year. He previously worked for PaineWebber.
  • Market commentary: Compiled by Glenn Blackley, RBC DS Global Markets, London. Tel: +44 171-865 1759
  • * Canada Rating: Aa2/AA+
  • Details are emerging of the record breaking Eu22.5bn syndicated loan backing Olivetti's $58bn bid for Telecom Italia. The facility has monopolised the attention of loan departments throughout Europe, Asia and the US this week, eclipsing the $14bn facility for Vodafone's purchase of Airtouch.