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India Syndication for National Thermal Power Corp's ¥8.7172bn two year six month term loan is proceeding smoothly. Arranger State Bank of India (Tokyo) launched the deal with a presentation at the end of November in Bahrain. Presentations also took place in early December in Singapore and Tokyo.

The introduction of electronic distribution systems early next year is set to reshape international bond markets as banks race to provide frequent borrowers with a new efficient tool for marketing their securities. A small number of London-based houses are close to producing a workable system.

The introduction of electronic distribution systems early next year is set to reshape international bond markets as banks race to provide frequent borrowers with a new efficient tool for marketing their securities. A small number of London-based houses are close to producing a workable system.

SOUTH AFRICA'S Investec Bank has arranged a P200m ($43m) five year commercial paper programme for Botswana Telecommunications Corporation. The maximum tenor allowed under the facility is 184 days while issuance can be in both dematerialised and registered form - a first for southern Africa. In the absence of a central depository in Botswana, PriceWaterhouseCoopers will act as registry to the programme.

SOUTH AFRICA'S Investec Bank has arranged a P200m ($43m) five year commercial paper programme for Botswana Telecommunications Corporation. The maximum tenor allowed under the facility is 184 days while issuance can be in both dematerialised and registered form - a first for southern Africa. In the absence of a central depository in Botswana, PriceWaterhouseCoopers will act as registry to the programme.

THE FIRST QUARTER of 2000 will host an unprecedented volume of equity linked debt from a spectacular variety of countries and issuers. In addition to a huge number of blue chip issuers, such as triple-A rated KfW and single-A rated Dutch supermarket group Royal Ahold, investors will have the opportunity to diversify into a rich universe of high yield convertible bonds through a host of European technology companies raising equity linked debt for the first time.

THE IRISH government this week confirmed it will proceed with the privatisation of national carrier, Aer Lingus. The Ministry of Public Enterprise has been considering various divestment options over the past few months. But after the carrier's agreement to join a strategic alliance with American Airlines and British Airlways, the government office is likely to plump for an IPO. If an IPO is chosen as the preferred route, Aer Lingus will have a dual listing in Dublin and London, unlike Eircom, sold off in the summer, which was fully registered in the US for a big board listing.

THE IRISH government this week confirmed it will proceed with the privatisation of national carrier, Aer Lingus. The Ministry of Public Enterprise has been considering various divestment options over the past few months. But after the carrier's agreement to join a strategic alliance with American Airlines and British Airlways, the government office is likely to plump for an IPO. If an IPO is chosen as the preferred route, Aer Lingus will have a dual listing in Dublin and London, unlike Eircom, sold off in the summer, which was fully registered in the US for a big board listing.

KPN and its six arrangers - ABN Amro, JP Morgan, Citibank, Dresdner, ING, and Warburg Dillon Read - plan to wrap up the co-arranging phase of the Eu13bn credit backing its role in the acquisition of E-Plus of Germany on December 22. Co-arrangers have been offered 16.25bp on the final allocated underwriting and 27.5bp on final allocated participation, having been asked to initially underwrite Eu750m each.

KPN and its six arrangers - ABN Amro, JP Morgan, Citibank, Dresdner, ING, and Warburg Dillon Read - plan to wrap up the co-arranging phase of the Eu13bn credit backing its role in the acquisition of E-Plus of Germany on December 22. Co-arrangers have been offered 16.25bp on the final allocated underwriting and 27.5bp on final allocated participation, having been asked to initially underwrite Eu750m each.

Brazil BancBoston and Citibank are working on documentation for a $100m five year amortising loan for