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ACQUISITIVE Swedish engineering group Atlas Copco is adding a $500m top-up transaction to its 1997 $1.5bn CP backup facility, as part of its financing strategy to take over US company Rental Service Corp. The facility is arranged by Citibank, Merrill Lynch and SEB, all joint books, with SEB as agent and doing documentation. They hope to sign up the syndicate by July 23. The acquisition will take place on July 29.

Australia Lead arrangers BA Australia, Crédit Agricole Indosuez Australia, Dresdner Kleinwort Benson Australia and HSBC this week closed general syndication for the A$750m two tranche deal for GPU Gas Net with an oversubscription.

Austria Raiffeisen Zentralbank has arranged a Asch1bn club revolver for Hild Haustechnik Group, one of Austria's leading traders of sanitary equipment. The deal was oversubscribed but not increased and will be used for working capital.

PINAULT Printemps La Redoute is at last to tap the Euroloan market for a Eu1bn credit arranged by SG, Commerzbank and Crédit Mutuel. Proceeds are likely to be used for general corporate purposes including the refinancing of existing debt and most bankers think that they will not be used to finance the possible acquisition of Gucci.

SALOMON Smith Barney has joined Chase Manhattan and Deutsche Bank as lead arranger of the three debt leveraged debt facilities backing Hicks, Muse Tate & Furst's buy-out of Hillsdown Holdings, the food-to-furniture group. The three lead arrangers are to launch the three facilities today (Friday), ending the intense speculation that has surrounded the deal. Market interest has been high - many bankers have been intrigued as to the structure that the arrangers will adopt for the sale of such a wide ranging conglomerate.

CHASE Manhattan, Chase Securities, Deutsche Bank and Deutsche Bank Securities will close general syndication of the $17bn senior debt package of revolving credits for DaimlerChrysler by the close of business today (Friday). The arrangers have easily exceeded the required amount and raised about $21bn - despite the fact that few in the market liked the deal's terms.

Egypt General syndication of the $150m three year term loan for Commercial International Bank (Egypt) SAE is advancing smoothly.

THE KINGDOM of Spain and the Republic of Portugal will be tapping the Euroloan market over the next two months, Euroweek can exclusively reveal. Of the two, Portugal is closest to mandating a group of banks. Bankers say that it is seeking a Eu1.5bn three year credit that will be used as a liquidity backstop facility. Requests for bids have been sent out and banks should reply in about a week's time.

ARRANGERS Credit Suisse First Boston, JP Morgan, Royal Bank of Scotland and Bank of Scotland plan to extend the co-arranging phase of the $2.25bn credit that will, in part, back Stagecoach's agreed $1.237bn acquisition of Coach USA, into next week. The phase was due to close today (Friday). One of the arrangers told Euroweek the deal was going well and that a strong group of banks was expected by next week.

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