Search results for

THE REPUBLIC of Italy took the markets by storm this week when it launched a breathtaking Eu4bn deal, at $4.4bn equivalent the largest fixed rate Eurobond ever.

THE REPUBLIC of Italy took the markets by storm this week when it launched a breathtaking Eu4bn deal, at $4.4bn equivalent the largest fixed rate Eurobond ever.

Mexico Arranger BT Alex Brown, BancAmerica Robertson Stephens and Citicorp Securities have launched syndication of the $100m term loan at 87.5bp over Libor for Tubos de Acero de Mexico SA (Tamsa).

* Banque Générale de Luxembourg Amount: Lfr2bn subordinated debt

10113

Egypt Syndication of the $11.5m amortising term loan facility arranged by Bayerische Vereinsbank for the Export Development Bank of Egypt has closed oversubscribed. The arranger has brought in five co-lenders. They are Creditanstalt, Erste Bank, Gulf International Bank, ING Barings and Misr Europe.

THE US stockmarkets remained cautiously optimistic this week after a sustained rally on Wall Street. Following two days of record highs by the Dow Jones which reached 8314.55 on Wednesday, stocks started weaker yesterday (Thursday), initially losing some 70 points. By the close of the market however, stocks had soared again to reach 8369.60. While acknowledging that the continued threat posed by the problems experienced in Asia remained, several banks agreed that it remained under the surface and was not directly deterring investors.

* Fitch IBCA this week added further pressure to the ratings outlook for the Russian Federation with the news that it had placed its BB+ rating on negative RatingWatch.

Ghana Standard Bank London and the Commonwealth Development Bank have arranged a $42.5m project finance loan for Glencar Mining which will finance the development of Glencar's Wassa gold mine.

China CEF Capital has been mandated to arrange a five year project financing for Anggang Second Power Plant Technology Conversion Project in Liaoning, China.

Australia NatWest Australia has been mandated to arrange a A$75m five year fundraising for Australia Pacific Airports Corp's bid for phase two of the Melbourne airport privatisation.

Market commentary Compiled by Gerard Perrignon, Hambros Bank Ltd, London. Tel: +44 171-865 1759