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The £175m five year revolver for global logistics company Ocean Group has been signed and increased to £225m. Deutsche Bank is the arranger. Participants are Allied Irish Banks, Banca Nazionale del Lavoro, Banco Bilbao Vizcaya, Banco di Napoli, Bank Austria Creditanstalt International, Bank of America, Bank of Scotland, Barclays Bank, Citibank, Rabobank International, Crédit Lyonnais, Den Danske Bank, Fortis Bank, HSBC Bank, ING Bank, KBC Bank, Landesbank Rheinland-Pfalz, Lloyds TSB Bank, National Australia Bank, Royal Bank of Scotland, Sanwa Bank and Westdeutsche Landesbank.

SG has wrapped up the co-arranging phase of Eu2.5m five year revolving credit for Vivendi. Despite initial concerns about the deal's terms - they were considered to be tight - appetite proved to be strong and a 20% oversubscription was achieved. Banks have been invited into the deal as either senior underwriting co-arrangers committing Eu250m with a final hold of Eu175m for a 7.5bp underwriting fee and 15bp participation fee, or co-arrangers committing Eu150m for a 12.5bp participation fee.

Denmark The popular $1bn five year revolver for AP Moeller closed on Wednesday night after a strong response in general syndication. This round will probably not lead to an increase in the facility.

Belgium Market talk suggests that Goldman Sachs, JP Morgan and Salomon Smith Barney have won the competition to provide the senior debt backing the LBO of Plate Glass and Shatterprufe Industries from South African Breweries.

THE $585m three part credit for the Hellenic Republic, arranged by ABN Amro, was signed last week. The first part is a $190m export finance loan covered by the Swedish export credit agency EKN.

France TELEcom, following its injection of $5.5bn into NTL and purchase of Vodafone Airtouch's 17.24% stake in E-Plus Mobilfunk, is widely tipped to bring a sizeable facility to market before the year end. The French telecom giant has been in preliminary talks with its bankers over putting together either a delayed acquisition facility or a new core facility that will tie up existing bilaterals and other pieces of existing debt. It already has a large amount of cash, however, following the sale of its stake in Sprint for Ffr40bn.

WHILE BANKERS wait for news on the mandates for Koç Bank and Isbank, Körfezbank has awarded a mandate to Bank of New York, Dai-Ichi Kangyo Bank and HypoVereinsbank, to arrange a $30m one year term loan. The deal carries a margin of 95bp, and has been launched to general syndication. Co-arrangers can earn 85bp for $5m, lead managers 77.5bp for $3.5m, managers 72.5bp for $2.5m and participants 67.5bp for $1m.