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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  • * Argentabank Lux SA Guarantor: Argenta Banque d'Epargne
  • The Indian government's determination to achieve a second successful privatisation this calendar year is said to have resulted in a strong book of orders for its sell-down in Mahanagar Telephone Nigam Ltd (MTNL). Despite the political crisis and pressure on the rupee, lead bankers Goldman Sachs, HSBC and Merrill Lynch, reported impressive and surprising levels of interest in the roughly $375m deal.
  • Market report Compiled by Gerard Perrignon, Hambros Bank Ltd, London. Tel: +44 171-865 1759
  • * World Bank Rating: Aaa/AAA
  • Cyprus Signing of the Ecu47.5m (increased from Ecu43m) three-year revolving credit facility arranged for Cyprus Development Bank by Sumitomo Bank took place on November 26 in London.
  • Syndication is expected to be closed early next week on the State of Qatar's third loan facility of the year, a $200m seven year facility arranged by Sumitomo Bank, Arab Banking Corp and Gulf International Bank. Bankers report that the transaction has been well received, but as yet there is no word on whether the market's reception will allow for an increase in the facility's size.
  • Finland The DM100m seven year club deal being arranged by Handelsbanken Markets for Nokian Tyres has been oversubscribed. The borrower has opted to increase the revolving credit to DM125m.
  • France London Forfaiting Asia has been mandated to arrange a $20m two year term loan at 100bp over Libor for Banque du Bosphore.
  • West Merchant Bank has quietly started to invite banks to step forward with modest participations of $3m each towards the first loan facility to emerge this year from a Ukrainian public sector borrower - and the third this year from Ukraine. The $20m one year term loan, which has a one year extension option, is for the 100% state-owned Export-Import Bank of Ukraine (Ukreximbank), and is priced at 425bp over Libor.
  • Argentina The $600m two tranche facility being arranged by Chase Securities Inc, Credit Suisse First Boston and JP Morgan Securities Inc for Maxus Energy Corp was signed on November 25.
  • Liberia Chase Manhattan plc has completed a $105m 10 year revolving/term credit facility for High Tide Shipping Corporation, High Seas Maritime Inc, High Challenge Shipping Corp, High Spirit Shipping Corp and High Wind Shipping Corp.
  • Australia The A$500m financing for Normandy Mining Finance Ltd has closed oversubscribed and was increased to A$700m.