Search results for

* World Bank Rating: Aaa/AAA

France Société Générale SA and Sogenal have completed the Ffr653m term loan for SERS.

* The flotation of shares in Autostrade by the Italian government is likely to be delayed until next year, following the failure of the authorities to approve an extension of the motorway operator's concession from 2018 to 2038. The IPO was expected to materialise in around eight weeks, but the first stage in the privatisation, involving the sale of stakes to a group of core shareholders, will be put back and this will automatically delay the international public offering of shares.

* Asset-Backed Capital Ltd

THE HELLENIC Republic is poised to launch its first dollar global bond since November 1994 to take advantage of the country's improving economic fundamentals and credit outlook. The Greek treasury is seeking $1bn, preferably over 10 years, but is also examining the possibility of issuing a 20 or 30 year tranche as well if a market exists for such a long dated transaction. The focus of sales for the long dated tranche would be in the US.

12710

* Deutsche Bank Ireland Guarantor: Deutsche Bank AG

MEXICAN tortilla maker Grupo Gruma this week sold a blow-out $250m 10 year offering at a level inside the UMS and Pemex. The deal, led by Lehman Brothers and Bear Stearns, was launched yesterday (Thursday) at $100m larger than initially planned and, at 165bp over Treasuries, the tightest end of its spread talk.

ICI, Imperial Chemical Industries plc -- which has already taken the syndicated loan market by complete surprise twice this year for jumbo financings -- is back for its third major syndication of the year. The well regarded company, which caught the market's imagination with its well priced $8.5bn acquisition facility over the summer, has mandated traditional leads Midland Bank and NatWest Markets to arrange a new $1.5bn standby revolving credit that will back its commercial paper issuance activities.

ICI, Imperial Chemical Industries plc -- which has already taken the syndicated loan market by complete surprise twice this year for jumbo financings -- is back for its third major syndication of the year. The well regarded company, which caught the market's imagination with its well priced $8.5bn acquisition facility over the summer, has mandated traditional leads Midland Bank and NatWest Markets to arrange a new $1.5bn standby revolving credit that will back its commercial paper issuance activities.

* Bayerische Vereinsbank Rating: Aa1

THE ITALIAN Treasury this week unveiled the successful core shareholders which will take a stake in its national telecoms operator, Telecom Italia. The government has already launched the initial pre-marketing phase for the privatisation of TI and will announce the indicative offer size on Saturday with bookbuilding and roadshows due to commence on Monday. The core shareholders or nucleo stabile will include Assicurazioni Generali (which will take up 0.3%), Ina (0.25%), Banca Monte dei Paschi di Siena (0.5%), Fondazione Cariplo (0.5%) and Credit Suisse Group (0.67%). These investors will be subject to a 12 month lock up.