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* ABB International Finance NV Guarantor: keepwell agreement from ABB Asea Brown Boveri Ltd

As the bidding for the five third generation telecoms licenses continued to escalate beyond all expectations this week, Orange is thought to have increased the volume of its loan facility to support its bid. The mobile phone operator, which is to be divested from Vodafone Airtouch, brought together Chase Manhattan (books), CIBC (documentation), Dresdner Kleinwort Benson (books) and HSBC (agent) to underwrite a £3.5bn loan facility about a month ago.

UPDATE.com traded up on its first day despite worsening sentiment toward internet related stock this week. Commerzbank closed the books on the Eu80.5m issue last Friday with a comfortable oversubscription, according to bankers. Having priced at Eu23 - at the top of the Eu19-Eu23 range - the stock closed at Eu32.80 on Wednesday during one of the most turbulent weeks ever for internet stocks.

ING Barings and Bank of Scotland have invited selected banks to join as sub-underwriters in the £252m of senior debt backing Focus DIY's bid for Wickes plc, another do-it-yourself products retailer. Duke Street is the equity sponsor. The two arrangers were understood to be talking to banks yesterday evening (Thursday).

UPDATE.com traded up on its first day despite worsening sentiment toward internet related stock this week. Commerzbank closed the books on the Eu80.5m issue last Friday with a comfortable oversubscription, according to bankers. Having priced at Eu23 - at the top of the Eu19-Eu23 range - the stock closed at Eu32.80 on Wednesday during one of the most turbulent weeks ever for internet stocks.

* Argentaria Global Finance Ltd Guarantor: BBVA

Battered on all fronts by unpredictable equity markets, volatile swap spreads, and even uncertainty over who they will be working for next week, bankers are looking forward to the coming series of holidays as a chance to escape from the hostile markets of the first quarter. Although swap spreads in the US receded from record highs set mid-week when fears of further US agency credit concerns were raised, the sharp movements in Nasdaq continue to worry market participants. They were left wondering when bond markets will stabilise or find a clear direction.

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