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8401

THE Slovak Republic is looking to increase the Deutschmark portion of its Nomura-led $750m multi-tranche, multi-currency financing package, possibly as early as today (Friday). Expectations are of a DM200m add-on to the outstanding DM600m 8% five year Deutschmark tranche -- which at launch in mid-May was widely acknow-ledged as the most successful element of the entire funding exercise.

* General Electric Capital Corp Rating: Aaa/AAA

POLSKIE LINIE Lotnicze LOT SA (LOT) is to be the first central and eastern European airline to tap the international bond markets, with a $100m five year FRN issue which will be lead managed by Bank Austria Creditanstalt. Investor presentations to support the debut transaction have been scheduled for Warsaw (June 22), Frankfurt and Zurich (June 23) and London (June 24), with launch expected shortly thereafter.

* Bradford and Bingley Building Society Rating: A3

* Province of Quebec Rating: A2/A+

* Rheinische Hypothekenbank AG Rating: Aa2

8413

NIKKO Salomon Smith Barney Limited, the investment banking joint venture to be formed as a result of a global strategic alliance between Nikko Securities and Travelers Group, is one of the boldest moves yet to deal with the growing competitive challenges in the industry, both in Japan and outside. By combining Salomon Smith Barney's institutional strength with Nikko's retail base, the participants aim to create a powerhouse which will provide investment banking, sales and trading and research services for corporate and institutional clients in Japan and overseas. "We have seen the Big Bang in Japan and we have jumped the gun," said Michel de Carvalho, head of Nikko's international operations.

Lloyds Bank Capital Markets has launched general syndication of the £40m revolving credit for Portsmouth & Sunderland Newspapers plc. The loan carries a margin of 55bp, a commitment fee of 22.5bp and a maturity of five years. Syndication has been targeted at a small club of relationship banks. Proceeds from the loan will be used for general working capital and to finance growth of its chain of One-Stop convenience stores.

* Bank Nederlandse Gemeenten Rating: Aaa/AAA

* Canadian Imperial Bank of Commerce Rating: Aa3/AA-