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9750

THE PIPELINE of issuance from Latin American credits is building up for the weeks ahead, with a mix of corporates, sovereigns and supranationals scheduled to launch deals. Mexican manufacturer Sanluis Corporación will price its $150m 10 put five year Euro-144a issue led by Chase next week. The spread talk is 325bp to 350bp over Treasuries.

COCA-COLA Amatil of Australia has hired SBC Warburg Dillon Read to advise on the flotation of its European operations, Coca-Cola Beverages (CCB), which is to be listed in London later this year with an initial market capitalisation expected at around $3.2bn (£2bn). Although there will be no capital increase, with the parent receiving the proceeds of the spin-off, the move enables CCB to raise equity capital in the future.

9720

THE UNITED Mexican States this week provided resounding evidence that US investor appetite for dollar product from Latin issuers has improved by launching a $1bn 10 year global bond led by Morgan Stanley Dean Witter. In a surprise move, the UMS launched the deal overnight and priced the offering yesterday (Thursday) morning at par to give a spread of 288bp over US Treasuries from a spread talk of 280bp and 290bp -- at a time when the outstanding UMS 2007s were trading around 282bp to 284bp. The new 10 year tightened in to around 286bp over before weakening slightly in a US Treasury sell-off to trade around 99.75.

Bahrain Bank of Tokyo-Mitsubishi, Banque Paribas, Chase Manhattan, Greenwich NatWest and JP Morgan have officially won the mandate to arrange a $200m term loan facility for Arab Banking Corporation. The five banks waited for official confirmation from the borrower for about two weeks.

THE Kingdom of Morocco, which is looking to tap the Euromarkets for the first time this year, this week received its first international credit ratings. Moody's Investors Service assigned the country a Ba1 long term foreign currency rating, while Standard & Poor's issued a BB rating.

THE Moscow city telephone network, Moskovskaya Gorodskaya Telefonnaya SET (MGTS), this week became the first Russian issuer to tap the public Eurobond markets since the Russian Federation increased its benchmark 10 year dollar bond last October. Credit Suisse First Boston and Salomon Smith Barney were joint leads on the $150m three year transaction.

* British Petroleum has signed a $2bn Euro-MTN programme arranged by JP Morgan. Issuers on the facility are BP Capital plc, BP Overzee BV, BP Finance Australia Ltd and BP America Inc. All issuance will be guaranteed by British Petroleum Co plc. Dealers on the facility are Deutsche Morgan Grenfell, Goldman Sachs, Lehman Brothers, Merrill Lynch and SBC Warburg Dillon Read.

* Morgan Stanley Dean Witter has been hired by Gianni Versace, the Italian fashion designer group, to advise on its flotation. The company, which recorded sales of Lit1,735bn ($976m) last year, will sell up to 25% of its equity capital. It was intending to list its stock last year but postponed the deal after the death of its founder, Gianni Versace. The company made consolidated pretax profits of Lit167bn in 1996 on consolidated revenue of Lit854bn and turnover of Lit1,665bn.

* Dresdner Finance BV Guarantor: Dresdner Bank AG

Chase Bank of Texas has arranged a $250m facility for EVI Inc. Pricing for the five year loan is based on the company's debt rating. The Libor margin range is 37.5bp to 100bp and the commitment fee range is 17.5bp to 25bp.