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China Commerzbank AG has been mandated by Sichuan Airlines to arrange a loan to finance three Airbus aircraft. The facility amount will be for about $130m.

Australia ABN Amro Bank, Deutsche Bank and Barclays are discussing the $900m six and a half year loan for Southern Cross Cables with six prospective sub-underwriters.

Market commentary Compiled by Gerrard Perrignon, RBC DS Global Markets, London.

THE GREEK government's privatisation programme suffered a setback this week when the sale of 51% of Ionian Bank, a subsidiary of state-owned Commercial Bank of Greece, was withdrawn after the offers from the only three competing bidders were deemed too low. Analysts said the failure cast a cloud over Greece's economic reform programme and hopes to join the European Union, with Morgan Stanley describing the Ionian sale as a litmus test of the government's ability to press ahead with its convergence programme and structural reforms.