GLOBALCAPITAL INTERNATIONAL LIMITED, a company
incorporated in England and Wales (company number 15236213),
having its registered office at 4 Bouverie Street, London, UK, EC4Y 8AX

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  • Asset backed securities: * DOMOS 4
  • * Bank Austria Rating: Aa2/AAA
  • * Abbey National Treasury Services Guarantor: Abbey National
  • * General Electric Capital Corp Rating: Aaa/AAA
  • * Land Sachsen-Anhalt Rating: Aa3/AA-
  • Ghana Citibank has quietly arranged a $40m pre-export financing for Ghana Cocoa Board (Cocobod). Cocobod will use the facility, which has a maturity of three months and a margin of 40bp over Libor, to finance the harvesting of Ghana's cocoa crop. Cocobod is one of the best African borrowers, and its annual pre-export financing -- of which this $40m transaction is just an addition -- is considered by most trade financiers to be the jewel of African trade finance business.
  • Australia Banca di Roma, Bayerische Landesbank, Bayerische Vereinsbank, Commerzbank, Deutsche Bank and Dresdner Bank have joined the A$175m two year loan for Concrete Construction arranged by Salomon Smith Barney. Proceeds will finance the construction of the Forum development, a residential tower and railway station in St Leonards, Sydney, Australia.
  • Lead arrangers of the $2.6bn loan package for Bacardi -- Goldman Sachs, Barclays. Citibank, Bank of Nova Scotia, Den Danske, Deutsche Bank, JP Morgan, NationsBank and Santander -- have closed general syndication and signed the deal. The deal has been one of the most successful and impressive transactions of the year. In senior syndication a massive $5.75bn was raised, showing the depth of demand. The success is all the more impressive considering the pricing -- which ranges between 25bp and 45bp over Libor -- attracted criticism when it came out.
  • Arranger Bank of Montreal is preparing to launch general syndication of the $530m debt financing supporting Sithe Energies' purchase of 12 power plants from Boston Edison. NationsBank and SG have both taken $150m sub-underwriting positions on the deal.
  • Belgium The eight banks arranging the Bfr135bn ($4bn) multicurrency revolving credit for Fortis have gone out to the general market. Senior lead managers are offered 17.5bp for a Bfr3.7bn commitment, lead managers are offered 15bp for a Bfr2.775bn commitment and managers 12.5bp for Bfr1.85bn commitments. A commitment fee of 50% of the margin is also available.
  • Abu Dhabi Three bidders have been shortlisted for the $900m Al-Tawellah power and water desalination project. CMS is being supported by Barclays Capital. Enron is being supported by IBJ. The third bidder, Tractebel, has not revealed its bankers.
  • Finland Deutsche Bank, Enskilda Debt Capital Markets and Merita have closed general syndication of the speedily arranged DM450m multicurrency revolving credit for Rauma Corporation, Rauma USA, and Rauma Asia-Pacific. The deal was well supported in general syndication and has been oversubscribed. However, the borrower has decided against increasing the size of the facility. Signing will take place in mid July.