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* Eagle Ltd Amount: ¥840.7m

* Canada Rating: Aa2/AA+

* Eurofima Rating: Aaa/AAA

* Crédit Local de France Rating: Aa1/AA+

Emerging markets commentary Compiled by ANZ Investment Bank, London. Contact: Jerome Booth, tel: +44 171-378 2959

* European Investment Bank

Domestic issuance: * Pfandbriefzentrale der Schweizerischen Kantonalbanken

Market commentary Compiled by Gerard Perrignon, Hambros Bank Ltd, London. Tel: +44 171-865 1759

National Australia Bank has arranged a A$200m CP programme for Itochu Australia. Dealers include National Australia Bank, Bankers Trust Australia and Westpac Banking Corporation. The A$820m term loan for Brisbane Airport Corp Ltd was signed on October 8.

Brazil The $126m syndicated import finance facility being arranged for Ceval Alimentos SA by Citicorp Securities Inc was signed last Friday.

CDR FINANCE, the French state owned entity formed to purchase Crédit Lyonnais assets, is quietly establishing a Ffr3bn standby facility through sole arranger Société Générale SA. The five year facility, which is being guaranteed by EPFR, has a five year tenor and pays a spread of 6.75bp over Libor or Pibor. There is a commitment fee of 3.25bp.

CIMENTS FRANÇAIS SA is making a rare foray into the syndicated loan market for a new Ffr1.5bn amortising term loan that is being jointly arranged by Natexis Banque and Société Générale SA. The company, which is the latest French corporate to tap the syndicated loan market following a spate of mandates from the country's leading borrowers, will use the proceeds to refinance a number of existing arrangements including the outstanding element of its Ffr2bn 10 year Natexis Banque arranged loan signed in December 1995.