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* Banque et Caisse d'Epargne de l'Etat Luxembourg Amount: Lfr2bn subordinated debt

* Nordic Investment Bank Rating: Aaa/AAA

Kingdom of Denmark Rating: Aa1/AA+

* Metro Finance BV Guarantor: Metro AG

Ghana Chase Manhattan has won the mandate to arrange a $250m credit facility for Ashanti Goldfields Company Ltd. The facility consists of a $175m five year term loan and a $75m 364 day revolver.

Lehman Brothers has arranged a $1.4bn facility for P&L Coal Holdings Corp. The loan is split into a $480m six year revolver, a $270m six year term loan and a $650m eight year term loan. Pricing is based on the company's total debt to Ebitda ratio. The Prime margin range for the six year loans is 50bp to 125bp, the Libor margin range is 150bp to 225bp and the commitment fee range is 37.5bp to 50bp. The Prime margin range for the eight year term loan is 100bp to 137.5bp and the Libor margin range is 200bp to 237.5bp.

Austria Arrangers Creditanstalt, HSBC and UBS have closed general syndication of the Asch7.5bn Connect Austria mobile telecoms project. The financing was 20% oversubscribed, demonstrating the strong appetite for telecoms related debt in the Euroloan markets.

A WEEK after the market was wondering whether the £550m facility for Yorkshire Power was struggling to get off the ground, the arrangers have triumphantly reported that all is well and that a solid group of co-arrangers and senior lead managers have joined the deal. There were strong market mutterings that the pricing -- which ranges between 25bp and 32.5bp over the facility's four tranches -- was too tight and that the deal needed a few more basis points to see it through.

Australia The $350m three year note issuance facility for BHP Finance Co pays a ratings linked margin of 32.5bp for ratings less than A-/A3 stepping down to 20bp for A-/A3 to A+/A1 and 17.5bp for AA-/Aa3 or above. Lenders will earn a front end fee of 7bp.

India Market participants believe Barclays Capital has received the mandate for a project financing for Bina Power Supply Co for the Bina Power Project.

Finland Deutsche Bank, Enskilda Debt Capital Markets and Merita Bank have signed the DM450m multicurrency revolving credit for Rauma Corporation, Rauma USA and Rauma Asia-Pacific.