Search results for

WEST BROMWICH Building Society is set to return to the loan market with a £250m credit, arranged by Barclays and Bayerische Landesbank. The five year deal has been launched to co-arrangers, with banks asked to commit £20m for a fee of 8bp. The margin is thought to be 17.5bp. Some £100m of the transaction refinances existing debt, with the balance being new money.

Denmark The margin of the debut Eu200m five year revolver for Nykredit Bank has emerged at 18.75bp. There is also a commitment fee of 9.375bp on the undrawn amount.

Croatia Arrangers Barclays, Chase, Dai-Ichi Kangyo and Dresdner are holding a bank meeting today (Friday) on the future of the DM400m three year term loan to Zagrebacka Bank.

INTERNATIONAL lead arrangers ABN Amro, Dresdner Kleinwort Benson, Paribas and SG are near to reaching financial close on the Sidi Krir independent power project. A revised schedule for the deal should be finalised next week. The project is sponsored by InterGen, First Arabian Development & Investment and Kato Development. The financing comprises four project tranches and one guaranteed equity bridge loan. The deal will be funded in both international and local currencies but all proceeds will be drawn in dollars. Arrangers of the local debt tranches are National Bank of Egypt, Commercial International Bank and MI Bank.

STANDARD Bank is to mandate between 10 and 12 banks over the next five days to arrange a credit that will refinance its $175m 364 day revolving credit that expires on July 2. Most bankers expect the mandated banks to underwrite about $15m each and the borrower to raise as much as it can from the retail market.

Greg Lomas has resigned from Warburg Dillon Read and will join CIBC. At CIBC he will focus on acquisition finance, including leveraged deals, on the distribution side. Lomas was a director in WDR's loan syndicate where he specialised in LBOs and reported to Jonathon Macdonald.

SPECULATION that Pernod Ricard was in discussion with relationship banks over raising a jumbo facility to back a bid for Allied Domecq's branded drinks business was rife this week. The talk was of the French company tapping the Euroloan market for between Ffr40bn and Ffr50bn through as many as four banks - possibly Banque Nationale de Paris, SG, Chase Manhattan and JP Morgan.

India Lead arranger and coordinator ANZ Investment Bank expects to wrap up the debt selldown of the $165m shipping facility for the Enron Mitsui OSK Lines LNG carrier by next week.