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Argentina ABN Amro Bank, Deutsche Bank and Dresdner Bank Luxembourg are receiving a good response to their $400m loan-style FRN for Perez Companc SA. Pricing on the facility is 90bp over Libor for the first six months, 100bp for months seven to 12, 110bp for months 13 to 18 and 125bp for the last six months. Co-arrangers have been asked to commit $30m apiece and general syndication is due to be launched in the middle of April.

* General Electric Capital Corp Rating: Aaa/AAA

THE REPUBLIC of Lebanon's first Eurobond of 1998 captured investors' imagination this week, enabling the B1/BB- rated Arab sovereign to launch a larger than expected $1bn issue this week - the largest ever sovereign Eurobond from the Middle East. Lead manager Paribas was originally mandated in March to lead manage a $500m three year issue, but positive feedback from investor roadshows in Geneva, London and Bahrain last week led to the addition of a $500m five year tranche to accommodate excess demand.

* Arbed SA Amount: Lfr2bn

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Bahrain Arrangers Chase Manhattan, JP Morgan, NatWest, Bank of Tokyo-Mitsubishi and Paribas have successfully closed the co-arranger phase of the $200m five year term loan for Arab Banking Corporation. Nine banks have joined as co-arrangers and $225m has already been raised. General syndication has been launched and commitments are due by April 10. The loan is priced at 35bp over Libor with a co-arranger fee of 30bp. It will be used for general corporate purposes.

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THE CITY of Moscow this week kicked off its $1.5bn Eurobond funding programme for 1998 with the launch of a well received DM500m three year issue via Credit Suisse First Boston. Moscow's debut Euro-DM offering featured a 9.125% coupon and was priced to yield 490bp over the Bobl 118 at a fixed re-offer price of 99.83. That was widely seen as offering fair value relative to the 490bp trading spread on the Russian Federation's DM1.25bn 9.375% five year issue launched last week and the 490bp trading margin on Moscow's $500m 9.5% three year transaction launched in May 1997.

* Deutsche Morgan Grenfell is arranging a Euro-MTN programme for Norwegian conglomerate Orkla. Little is known about the outlines of the programme, other than that it is to be signed in around eight to 10 weeks. DMG would not comment on the transaction. * The Union Bank of Norway will sign a $1.5bn Euro-MTN programme on Monday via Merrill Lynch. The programme will also contain a 144A option, as well as the ability to issue undated and dated debt. JP Morgan and UBS will join Merrill on the dealer panel.

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MORGAN Stanley Dean Witter this week successfully completed its sale of stock in Akbank, the largest Turkish private sector bank, setting a positive tone for several other internationally targeted equity deals that are planned from Turkey. The US firm raised $123m for the selling shareholders, the powerful Sabanci family, selling ordinary shares in the form of ADRs to a mixture of international investors.