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6549

Peter Bulbrook, manager in IBJ's London syndications department is to join HSBC's syndications team. In his new position he will move away from project finance related transactions and will cover corporate and acquisition deals in Europe as well. Jan van Bilsen has moved to ABN Amro's London syndications team from Amsterdam. He will concentrate on African and Middle Eastern credits.

ARRANGERS and sponsors of the $675m Qatar Vinyl Company (QVC) project in Qatar have come back to the market with a reformulated approach that looks set to ensure the deal's success and give valuable momentum to the Qatari deal pipeline. Arrangers Apicorp, Credit Suisse First Boston and Banque Paribas and sponsors Qatar General Petroleum Company (QGPC), Norsk Hydro and Elf Aquitaine and financial adviser SG were forced to re-think the deal after the Russian and Brazilian crises and the widespread retreat from emerging markets by many traditional project finance banks.

6518

South Africa The $117.227m two year L/C credit for Eskom, arranged by ABN Amro and Deutsche Bank has been signed.

6496

THE REPUBLIC of Argentina bit the bullet and offered investors the highest ever coupon on any Latin sovereign issue to reopen the Eurobond markets with a DM500m step down 10 put five year deal. The offering, led by Morgan Stanley Dean Witter, has a 14% coupon for the first two years, stepping down to 9% thereafter.

China ANZ Investment Bank is sounding out the market for a $100m seven year financing for Tianjin Ao Zhong Development Co, a joint venture between Recosia Pte, Ipoh and HKR International.

6506

BRAZIL'S debt and equity markets continued to sell off this week, even after the republic announced its long awaited $84bn three year fiscal austerity package. Although the package was within expectations, investors took profits as they recalled that the government still has to receive congressional approval for more than two-thirds of the cuts announced in its plan.

Australia Bankers Trust Australia has been mandated by Hunstman Corp to arrange an acquisition financing of around A$125m.

* General Electric Capital Australia Ltd Guarantor: General Electric Capital Corp