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Bayerische Hypovereins Finance NV Guarantor: Bayerische Hypo- und Vereinsbank AG

BANK OF Tokyo-Mitsubishi (bookrunner), Barclays Capital (information memorandum), Bayerische Landesbank Girozentrale (facility agent), Bank of Montreal (documentation agent), Commerzbank (bookrunner) and Paribas (bookrunner), lead arrangers of the Hellenic Republic's $500m five year facility have received an outstanding response from potential co-arrangers. Banks were offered $25m on a take-and-hold basis, and a massive oversubscription achieved. Joining at this level are San Paolo-IMI, Banca Commerciale Italiana, Banque Nationale de Paris, Commercial Bank of Greece, Den Danske, DG Bank, DGZ Bank, DSL, Landesbank Schleswig-Holstein, National Australia Bank, National Bank of Greece and Unibank.

The Republic of Hungary will next week become the first central and eastern European sovereign to launch a global dollar bond. ABN Amro and Salomon Smith Barney have secured the prestigious bookrunners' mandate on the landmark SEC registered issue, which is should emerge for $750m with a seven year tenor.

India The official date for the close of general syndication on the $100m five year bullet facility for Industrial Development Bank of India passed on Wednesday this week with some 12 banks committing in writing.

THE IMPROVEMENT in tone of the Latin American markets since Brazil reached agreement with the IMF, but that improvement has yet to feed through judging by the prices Latin corporates had to pay for international bond issues this week. Privatised Argentine mortgage bank Banco Hipotecario launched a $100m three year bond on Wednesday (via Salomon Smith Barney) offering a spread pick-up of 128bp over comparables, as well as a warrant whose value equated to another 25bp of concession.

Argentina Arrangers Bank of America and Barclays Bank (Miami) have completed syndication of the 364 day $300m L/C facility for Banco Rio de la Plata SA.

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Credit Suisse First Boston and Dresdner Kleinwort Benson denied claims yesterday (Thursday) that the Republic of Lithuania had decided to postpone the launch of its long awaited Eu200m five year bond. While admitting this month's unsettled market conditions had complicated the bookbuilding process, officials from both banks maintained that they are looking to bring the Ba1/BBB- rated deal to market next week.

NATIONAL Bank of Egypt's decision to raise a $150m term loan through arranger Citibank could herald the start of a busy four months in Egypt. According to bankers, as many as five Egyptian financial institutions are preparing to tap the international syndicated loan market over the coming months, possibly including Banque du Caire, Banque Misr, Commercial International Bank and Egypt Arab African Bank.