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* Abbey National Treasury Services plc Guarantor: Abbey National plc

BANQUE Nationale de Paris and Kredietbank have been officially mandated to arrange a Bfr15bn project finance loan for Telenet, a joint venture between US West, local Belgian governments and other investors. The loan will be used by the sponsor is to finance the build-out of its existing cable network, which just provides TV cable, so that it can additionally provide voice telephony and internet access.

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* European Bank for Reconstruction & Development Rating: Aaa/AAA

ABN Amro, Bank of Nova Scotia and Export Development Corp-oration of Canada have launched syndication of a £96m project financing that will fund the construction of the Medium Support Helicopter Aircrew Training Facility, a helicopter simulator for aircrew. The project is part of the UK's Public Private Partnership, formerly known as the Private Finance Initiative (PFI). The sponsor group of the project comprises CAE Group, Vega Plc, Serco Group and Charterhouse.

* Abbey National Treasury Services plc Guarantor: Abbey National plc

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Germany JP Morgan brought banks at the end of last week into the DM125m debt facilities supporting the MBO of Kalle Nalo, the Germany sausage casing company. The facilities consisted of a DM85m seven year loan priced at 175bp over Libor, a DM20m eight year loan priced at 200bp and a DM20m working capital revolving credit priced at 175bp.

* Goldman Sachs Group Rating: A1/A+

ING Barings, SBC Warburg Dillon Read and UBS this week completed the offering of stock in Hagemeyer, the Dutch trading company, raising $1.6bn in the largest corporate sale of stock in the Dutch market to date. The shares were sold by First Pacific and were priced at Dfl 89 after just nine days of bookbuilding. According to syndicate members, the deal was not the easiest sell during the marketing period and they had to work hard to explain the Hagemeyer name to international investors.

INVESTMENT bankers are expecting a growing supply of new issues from Turkish banks over the coming months, as well as some issues from top Turkish companies -- many of which have been waiting until the privatisation programme gets underway. The latest bank to join in the rush is Akbank, which this week said it will sell secondary shares to international investors via Morgan Stanley Dean Witter. Akbank is the largest private sector bank in Turkey ranked by shareholders' equity and the third largest in terms of assets. Morgan Stanley launched the deal this week and the transaction will be executed at the end of the month.