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Belgium Syndication of the Bfr24bn non-recourse facility that is financing the development of KPN-Orange, Belgium's third cellular network, has met with an enthusiastic response, according to arrangers JP Morgan and Dresdner Kleinwort Benson.

IBJ IS TO arrange the refinancing for the AES Barry Ltd merchant power plant in south Wales. The original deal -- for one of the UK's first non-peaking merchant plants -- was signed in September 1997, and arranged by IBJ. The refinancing is to be orientated towards increasing tenor rather than improving the pricing.

India The $650.6m syndicated debt portion of Dabhol Power Co's project financing co-ordinated by ABN Amro, ANZ Investment Bank, Citibank International and Credit Suisse First Boston, is split into three tranches.

Chile Argentaria Banco de Negocios SA, Chase Securities Inc, Citicorp Securities Inc, Dresdner Bank Luxembourg SA, NationsBanc Montgomery Securities Inc and JP Morgan Securities Inc have completed their $500m two tranche facility for Enersis SA.

Egypt Arranger Greenwich NatWest has closed oversubscribed the $260m offshore limited recourse tranche funding the construction of a steel mill being developed by Ezz Heavy Industries.

Norway Arrangers Banque Nationale de Paris, Deutsche Bank AG and Den norske have closed general syndication of the well supported $450m revolving credit for Norske Skogindustrier and will sign the deal today (Friday).

SCOTTISH Power plc's proposed merger with Pacificorp has prompted loan market players this week to speculate whether the two companies are seeking a jumbo credit in the near future. The merger -- to create a company worth about $12bn -- is being financed through the issuance of US shares by Scottish Power.

REPORTS that UBS is considering selling its global trade finance arm has raised doubts over Warburg Dillon Reid's plans to execute the forthcoming renewal of Sonangol's $400m pre-export finance facility. The deal is to be launched into syndication early next year by Warburg Dillon Reid. However, in a memorandum to WDR's employees last week, Hans de Gier, the firm's head, said that the global trade finance sector is "neither part of WDR's core business nor of the strategic business plans of the rest of the UBS group".

BAYERISCHE Landesbank (Paris branch), Crédit Lyonnais and Paribas say that general syndication of the Ffr3bn five year revolving credit for Comptoir des Entrepreneurs will close next week fully subscribed. Around seven banks have joined the facility. The loan carries a margin of 7.5bp for years one to three and 8.5bp for years four and five. There is a facility fee of 7.5bp for years one to three and 8.5bp for years four and five, irrespective of whether the loan is drawn or not. However, if more than 33% of the facility is drawn, a utilisation fee of 2.5bp is also available.