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  • ABSA Bank charted new territory for the South African capital markets this week with the first public offering of callable sub-ordinated bonds. The transaction was also the debut bank capital issue in Africa.
  • South Africa Telkom South Africa this week signed a $100m loan, led by Dresdner Bank and Sumitomo Bank. The deal was oversubscribed, raising $250m in the first round. It did not go out to further subscription and the total was increased to $200m.
  • China Arranger BA Asia has launched the $130m two year letter of credit facility for Florens Container Corp. The deal features a guarantee from parent company Cosco Pacific.
  • Asia * Series 2000-1E Swan Trust
  • Australia The Australian Pipeline Trust and adviser ABN Amro Australia are reviewing several debt financing proposals for Australian Gas Light Co's pipeline assets. Mandated arranger(s) will be named next week.
  • Market report: Compiled by Glenn Blackley,
  • The launch of a Eu300m facility for Avesta Sheffield is imminent, with HSBC and SEB the arrangers. It is thought to be looking for a five year revolver. Sources say the margin will come out at 47.5bp and that the deal will be launched straight to general syndication.
  • Is Edson Mitchell a happy camper? The Deutsche Bank rock star is regarded by many as the number one Euromarketeer, and he is certainly one of the highest paid. And so he should be - the revenues from his capital markets group are now driving the whole of Deutsche Bank and are helping to paper over the cracks of Rolf Breuer's crumbling and besieged domestic German empire.
  • Bank of Western Australia launched its first international securitisation this week with a $640m mortgage backed transaction lead managed by Warburg Dillon Read. The deal was the first Australian MBS in the Euromarket since last October, and investors snapped it up. The shortage of supply enabled WDR to reverse some of the spread widening that affected the sector last year.
  • Estonia's largest commercial bank, Hansapank, has asked 25 banks to submit proposals for a syndicated loan or a bond issue to raise Eu100m. Banks are discussing an extremely wide range of possible pricing for a three year term loan on the loan deadline which expires today (Friday). The deal could become the benchmark for borrowers from the Baltic states and other eastern European countries.