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Croatia Chase Manhattan has arranged a $303m financing for the Republic of Croatia, to fund the first three sections of the Bregana-Zagreb-Dubrovnik motorway. The facility is split into two tranches: a $75m term loan and a $228m 14 year US Exim guaranteed facility.

CHASE Manhattan and JP Morgan have wrapped up the co-arranging phase of the £585m senior debt backing CinVen Group Ltd and Investcorp's buy out of Astra-Zeneca's specialty chemicals business, Zeneca Specialities. The two arrangers effectively closed the level last Friday after nine banks joined the deal. They are Royal Bank of Scotland (committing £100m), Bank of Scotland (£100m), Deutsche Bank (£100m), Morgan Stanley Dean Witter (£75m), ING Barings (£75m), Lloyds Bank (£75m), Industrial Bank of Japan (£75m), Credit Suisse First Boston (£75m) and WestLB (£75m). Co-arrangers were originally offered 112.5bp for $75m.

SPECULATION mounted yesterday (Thursday) that Fiat intends to tap the Euroloan market for a jumbo credit over the next 10 days. The talk follows Fiat's acquisition of Case of the US, the maker of tractors and heavy agricultural machinery. Many in the market feel that the borrower will not be Fiat Spa or Fiat Finance & Trade Ltd but a US subsidiary to avoid withholding tax issues and that the loan will be guaranteed by the Italian holding company.

DEUTSCHE Bank and Barclays have completed the extension and recasting of a DM1.26bn credit for Opel, the German subsidiary of General Motors. The five year loan was originally signed in July 1995 and was arranged by the same two banks. The reworking of the facility has meant the extension of the deal by another two years and the conversion of it from Deutschmarks into euros.

India Lead arranger and coordinator ANZ Investment Bank is in the advanced stages of documentation on the $165m limited recourse shipping facility for Enron Mitsui OSK Lines which it expects to fully wrap up in the next 10 days.

THE Nkr700m revolver for Norwegian defence company Kongsberg Gruppen has found a good reception in the market, despite some earlier hesitancy over the credit. The five year deal attracted interest because the borrower was formed from part of the old Kongsberg company. That company ran into financial difficulties in the late 1980s, despite its state ownership.

Mexico Arrangers Deutsche Banc Alex Brown, HypoVereinsbank-Bayerische Hypo-und Vereinsbank, Bayerische Landesbank, Dresdner Bank AG, Kreditanstalt fur Wiederaufbau, WestLB and ABN Amro Bank NV are receiving final commitments on their $880m project finance facility for Pemopro.

Hong Kong Arrangers BOCI Capital, Citicorp International, HSBC Investment Bank Asia and Hang Seng Finance have launched the HK$2.2bn loan for Missleton Finance.