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China Chase Manhattan Asia has launched the $250m five year fundraising for Kodak China Co to relationship banks. The facility features a guarantee from parent company Eastman Kodak. All-in pricing is rumoured to be between 50bp and 60bp.

LEAD MANAGER SG has successfully executed the privatisation sale of stock in Aérospatiale Matra, the French defence group. The bank priced the shares at Eu19.80 for institutional investors, at the top end of the expected price range. Retail buyers will pay Eu19.2. Both tranches were between 35 and 40 times oversubscribed by investors keen to buy a liquid stock in an under-represented industry. The issue price values Aérospatiale Matra at Ffr52bn (Eu7.93bn), in line with analysts' expectations.

Malaysia * Federation of Malaysia

Europe * Criterion Healthcare Ltd

Australia GPU Gas Net is raising a A$750m dual tranche loan to finance the acquisition of the Transmission Pipelines of Australia assets. Lead arrangers are BA Australia, Crédit Agricole Indosuez Australia, Dresdner Kleinwort Benson Australia and HSBC.

* Deutsche Australia Ltd Rating: Aa3/AA/AA

BRAZIL's BNDES decided to pull its planned 10 year global bond this week after orders had failed to reach the $1bn threshold set by the Brazilian Development Bank when the offer period expired last Friday (May 21). BNDES and the lead manager of the exchange, Goldman Sachs, had asked holders of existing bonds in up to 90 Brazilian corporate issues - totalling more than $20bn - to swap these securities for new bonds via special purpose vehicle Brazilian Liquidity Transaction Co (BLT). The assets of this vehicle were to have been the tendered corporate bonds backed by a BNDES guarantee on interest payments.

JOINT arrangers ABN Amro, Commerzbank, Deutsche Bank and SG have closed a successful general syndication of the Eu1.7bn facility for Bombardier. More than Eu2.2bn was raised in general, but the borrower has chosen not to accept the extra funds, so arrangers and co-arrangers will be scaled back. The deal will be signed in the second week of June.