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Argentina Standard Bank London has underwritten and funded a $25m secured six month bridge facility for the Argentine Post Office, Correo Argentino SA.

Abu Dhabi The co-arranging and sub-underwriting phase of the $600m project financing for CMS Energy's Tawellah A2 independent water and power project is attracting strong support from the market and is heading for oversubscription with several banks still outstanding.

BARCLAYS, Den Danske and Deutsche Bank launched syndication of the debt package backing Emap's acquisition of Peterson Companies on Wednesday. Co-arrangers are offered 50bp for $75m tickets, lead managers 30bp for $50m and managers 20bp for $25m.

UBS, acting through Warburg Dillon Read, has been mandated by Sociedade Nacional de Combustiveis de Angola (Sonangol) to arrange a fully underwritten $500m oil contract pre-export financing. The deal is one of Africa's most valuable trade finance transactions. Indeed, with the Ghanaian Cocoa Board's annual pre-export deal, it is one of the few sub-Saharan loans that lenders want to be seen in.

BARCLAYS, Chase Manhattan, Citibank and Greenwich NatWest signed the $1.5bn (increased from $1.25bn) working capital facility for National Power plc on December 23, rounding off a successful-end-of year deal. Banks were offered one ticket in general syndication -- $50m for a 7.5bp fee giving them lead manager status. They are Banco Central Hispanoamericano, Fuji Bank, KBC Bank, Bank of Tokyo-Mitsubishi, Dai-Ichi Kangyo Bank and Sanwa. Arrangers report that Japanese banks make up much of the syndicate.

TURKISH borrowers will find it hard this year to beat 1998, in terms of successfully syndicated deals. Nearly every 1998 deal was oversubscribed and apart from the final two months of the year, liquidity, or the lack of it, was not an issue.

VIVENDI has mandated SG to arrange a Eu500m five year revolving credit. SG has launched the deal to a limited group of co-arrangers which have been asked to commit Eu60m for an underwriting fee of 7bp. The loan carries a margin of 25bp over Libor for the first two years and 27.5bp for years three to five. A commitment fee of 2.5bp is also payable on the two tranches

Norway Bankgesellschaft Berlin has signed the $95m (increased from $75m) four year less one day revolving credit for Sparebanken Rogaland.

WESTLB (bookrunner), ABN Amro, Deutsche and Warburg Dillon Read have launched the DM1.7bn facility backing Swiss Air's purchase of a 49.9% stake in LTU to co-arrangers. Euroweek hears that the arrangers are offering an underwriting fee of between 10bp and 15bp. The debt package consists of a DM1.2bn bridge facility that carries a margin of 50bp over Libor and a commitment fee of 25bp, and a DM500m eight year term loan that carries a margin of 125bp, has a one year grace period and will be repaid in 14 semi-annual installments.