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* European Bank for Reconstruction and Development Rating: Aaa/AAA

SBC WARBURG Dillon Read this week won the mandate for a sale of shares in Helsinki Telecom, one of two international share issues this year in Finnish telecoms operators. The deal will raise around $250m and is to come to the market in June. Helsinki Telecom was originally formed as a mutual society and was owned by its members before its IPO which incorporated the group as a public company. This forthcoming transaction will involve the sale of primary and secondary stock which will be targeted at international and local investors. Joining the lead managers will be Enskilda Securities as international co-lead manager with Deutsche Morgan Grenfell and HSBC as co-managers. The second deal is in national group, Telecom Finland, which is to arrive on the markets this autumn in an offer which

SAUDI Basic Industries (Sabic) and Exxon this week set a pricing benchmark of 45bp over Libor for their $1bn Kemya petrochemicals expansion project in Saudi Arabia. The pricing is the lowest yet awarded to project related debt in the Middle East and is certain to send shockwaves around the syndicated loan market. The $700m enhanced corporate credit facility, which will finance the expansion of the ethylene cracker plant, was awarded late Wednesday night to Barclays (documentation), Citibank (bookrunner), Riyad Bank (bookrunner), Saudi American Bank (bookrunner), Sumitomo (co-ordinator), Al-Bank Al-Saudi Al-Fransi, Arab Banking Corporation, Arab National Bank, Apicorp, GIB, Industrial Bank of Japan, JP Morgan and Saudi British Bank.

* De Nationale Investeringsbank NV Rating: Aa3/AA+ Amount: Sfr200m

Arrangers Chase, HSBC (agent) and Société Générale has closed the £500m five year revolving credit for LucasVarity plc. The loan was a blow-out in general syndication with over £750m raised and the facility was increased to £600m.

GENERAL syndication of the $10.9bn loan facilities backing Texas Utilities' acquisition of the Energy Group has been launched by arrangers Chase Manhattan, Lehman Brothers and Merrill Lynch. The facilities consist of a £3.625bn portion and a $5bn portion. In retail, senior lead managers are invited to take $150m pro-rata for a fee of 22.5bp, lead managers $100m for a fee of 17.5bp if they commit pro-rata or 15bp if they don't and managers $50m for a fee of 12.5bp if they commit pro-rata and 10bp if they don't.

* Moody's Investors Service has appointed Kathryn Kerle as representative director of its office in Singapore. She will be responsible for maintaining the agency's relationships with its clients in southeast Asia and will report to Edward Young, managing director Asia-Pacific. Kerle succeeds Patrick Winsbury, who is joining the agency's east Asian banking team as an assistant vice president.

BancAmerica Robertson Stephens has arranged a $500m revolver for Van Kampen American Capital Prime Rate Income Trust. Pricing for the 364 day loan is based on outstanding amounts under the loan. The Libor margin range is 37.5bp to 50bp. The Lisle, Illinois based investment company will use the loan for short term liquidity and temporary emergency purpose. Bank of America NT&SA is the agent for the loan.

* Banca Popolare di Brescia Rating: Baa2/BBB

Asset backed securities: * Huson Pty Ltd

South Africa Appetite for Investec Overseas Finance's $150m three year term loan has proved to be strong in general syndication. Retail was launched last week, after ING Barings, Creditanstalt, Landesbank Rheinland-Pfalz, Standard Chartered, Sumitomo and WGZ-Bank joined as co-arrangers.