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Iceland Arrangers of the $200m five year revolving credit for Bunadarbanki Islands have closed general syndication after an impressive oversubscription was achieved. The borrower is yet to notify the arrangers of an increase. However if this happens -- some bankers think the facility could be raised to $220m -- arrangers Sumitomo (bookrunner and agent), BGB Bank, Den Danske, DG Bank, Enskilda Debt Capital Markets and ING Barings will have presided over the largest ever syndicated facility arranged for an Icelandic borrower.

THE SLOVAK Republic is to launch a Euromarket financing of up to $1bn equivalent next week in a move that should enable the embattled country to set simultaneous benchmarks in three of the world's major currencies.

THE SLOVAK Republic is to launch a Euromarket financing of up to $1bn equivalent next week in a move that should enable the embattled country to set simultaneous benchmarks in three of the world's major currencies. Denominated in dollars, Deutschmarks and yen, the bond financing package will also represent the sternest possible test of investor sentiment towards a country that has been plagued by economic and political uncertainty over the past year. The ambitious transaction will mark the first occasion on which the Slovak Republic has tapped the international bond markets in its own name -- previous transactions have been conducted via the country's central bank, the National Bank of Slovakia.

* Landesbank Hessen-Thüringen Rating: Aaa/AAA

LEAD manager Bankers Trust Alex Brown brought a £150m high yield bond issue for William Hill this week, completing the capital structure put in place to finance Nomura's acquisition of the betting chain at the end of last year. Launched and priced on Thursday, the 10 year £150m senior subordinated notes will be freed to trade today( Friday).

* Canadian Imperial Bank of Commerce Rating: Aa3/AA-

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A TWO tranche Euro 144A issue comprising dollar and Deutschmark components was launched this week for Derby Cycle Corp, the biggest manufacturer of bicycles in the world. Both tranches were 10 year transactions with call options in year five and annually thereafter. The $100m element pays a 10% coupon while theDM110m issue pays a 9.375% coupon to give a yield to maturity of 9.44%.

LATIN AMERICA's first equity issue of the year failed to lift the gloom this week as investors turned their noses up at the Dominican Republic telephone company's $74m offering. The Tricom deal, led by Bear Stearns, involved the issue of 5.7m ADSs, priced at $13, the bottom of its $13 to $15 filing range.