Search results for

9554

* ABN Amro and Salomon Smith Barney have secured the mandate to lead manage the first Eurodollar deal by the National Bank of Hungary (NBH) since August 1994. The two banks emerged victorious from a shortlist of eight banks which comprised four European and four US bidders. The planned $300m five year issue for the Baa3/BBB- rated borrower will be roadshowed in Italy, Switzerland and the UK next week, with launch expected shortly thereafter. Given Hungary's limited fundraising needs, the NBH is fast gaining a reputation for launching opportunistic, tightly priced issues. The forthcoming transaction is expected to emerge at an aggressive-looking spread of 80bp over Treasuries.

GREECE took the markets by storm this week with the launch of a hugely successful Eu1.5bn issue which sets a new benchmark for the borrower in the international markets and the future European currency. Propelled by a new found belief in the Greek convergence story following the republic's decision to devalue its currency, enter the ERM and join Emu in 2001, the issue met massive investor demand from accounts across Europe and tightened in dramatically before lead managers saw good two way business in the deal.

9670

FOLLOWING the assignment of international credit ratings by Standard & Poor's and Moody's this week, the City of Florence plans to issue a Lit100bn-Lit150bn municipal bond. Florence, the capital city of the region of Tuscany, was rated Aa2 by Moody's and AA by S&P. Merrill Lynch acted as ratings adviser.

FREDDIE MAC will become the latest borrower to set up a regular programme of benchmark issuance when it launches a $4bn-plus global bond next month, Euroweek has learnt.

FREDDIE MAC will become the latest borrower to set up a regular programme of benchmark issuance when it launches a $4bn-plus global bond next month, Euroweek has learnt.

* Bank Austria AG Rating: Aa2/AAA

LEAD managers Goldman Sachs and IMI have concluded the sale of stock in Saipem, the oil field services company controlled by Italy's national oil and gas group, Eni. The two firms achieved a good price for the company's stock despite the aggressive forces of a local bull market and a falling international oil price.

* World Bank Rating: Aaa/AAA

JOINT arrangers Merrill Lynch and SBC Warburg Dillon Read are looking to bring in co-lead arrangers and co-arrangers into their £500m credit facilities which are financing the formation of HMV Media Group Plc. Co-lead arrangers are being offered takes of £60m and co-arrangers £40m. Once co-lead arrangers and co-arrangers have been appointed -- the arrangers are hoping to firm up the two groups by the middle of next week -- general syndication will be launched.

India Co-ordinating arranger BA Asia has completed a $500m facility for Indian Oil Corp. Proceeds will refinance the $600m deal arranged by BA Asia in September 1997. Arrangers are Bank of America pledging $157.5m, Midland Bank contributing $100m, Oriental Bank of Commerce absorbing $77.5m, Bank of India committing $50m and HDFC Bank taking $30m. Co-arranger Gulf International Bank BSC signed up with $25m.