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THE refinancing for Cofco Capital Corp's $200m 364 day L/C facility signed in September 1998 has been completed. Mandated arranger BA Asia invited nine banks to sign up as joint arrangers and underwriters before launching the deal into general syndication. Arrangers are BA Asia, Banca Commerciale Italiana (New York), Banca Monte dei Paschi di Siena, Bank of China (New York), Banque Nationale de Paris (Beijing), First National Bank of Chicago, Rabobank and Standard Chartered Bank (Beijing) pledging $18.5m apiece, and Bank Brussels Lambert (Hong Kong) and Development Bank of Singapore committing $13.5m each.

n Cregem Finance NV Guarantor: Crédit Communal de Belgique

n ABB International Finance NV Guarantor: keepwell agreement from ABB Asea Brown Boveri Ltd

Telefónica del Perú (TdP) will start roadshows in the week ahead for a vital new $200m bond structure involving an insurance guarantee from the US Overseas Private Investment Corp (OPIC). An ever increasing number of Latin American corporates are pinning their hopes on the structure, at a time when corporate access to vanilla debt markets is all but impossible.

Telefónica del Perú (TdP) will start roadshows in the week ahead for a vital new $200m bond structure involving an insurance guarantee from the US Overseas Private Investment Corp (OPIC). An ever increasing number of Latin American corporates are pinning their hopes on the structure, at a time when corporate access to vanilla debt markets is all but impossible.

Loan market professionals this week expressed concern that the recently completed Eu1.5bn three year standby revolver for the Republic of Portugal will make it difficult for other EU sovereigns to follow suit. The Kingdom of Spain is the closest sovereign to coming to the market. Spain is thought to have held preliminary talks with banks about a new standby facility over the summer.

Toyota is poised to list in London and New York at the end of September, on the back of a ¥162bn share sale by three major investors. The move continues a trend of reduced cross-holdings in Japanese industry.

n Salomon Smith Barney is to make a number of transfers and hires to its European investment banking division to boost its European growth strategy. Theodore Kuh, managing director, has transferred from San Francisco to London to head the new European retail and consumer investment banking franchise. Previously, he ran the San Francisco consumer franchise and headed the company's US and Canadian food retail practice. Kuh joined Salomon in 1994 and will report to Michael Klein and Edward Miller, co-heads of European investment banking.

The Republic of Turkey returned to the international bond markets this week with its first issue since the country was hit by a devastating earthquake last month. Merrill Lynch yesterday (Thursday) sole lead managed a $200m tap of the B1/B/B+ rated sovereign's $400m 12% December 2008 puttable global bond.