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Mellon Bank, Citicorp, First Union National Bank and NationsBank have arranged several loans totaling $1.95bn for Genesis Health Ventures Inc and MultiCare Cos Inc following the merger of the two companies. MultiCare and Genesis Eldercare Acquisition Corp have entered two 120 day loans of $425m and $150m respectively, both priced at 150bp above Prime.

Hungary Expect news imminently of a Ecu125m guarantee facility for MOL. The facility, which will support a new EIB loan, has been hotly contested by a number of potential arrangers.

Belgium Sumitomo Bank is in the final stages of completing general syndication of its $200m term loan for Sidmar.

India A group of four arrangers including Tokyo-Mitsubishi International (HK) should be awarded the mandate to arrange a $50m financing for Export-Import Bank of India. The seven year deal has put and call options on the fifth anniversary.

AFTER months of speculation, Pharmacia & Upjohn Inc is making its debut in the syndicated loan market following the two pharmaceutical companies merger in 1995. The $500m facility, which has been mandated to Citibank and Enskilda Debt Capital Markets, is set to redefine the company's core relationship bank group.

Denmark Euroweek hears early reports that Den Danske Bank has been quietly arranging a rare foray into the market for a Danish borrower.

THE Industrial Bank of Japan is in the initial stages of launching syndication of the £230m completion guarantee facility backing the Autolink consortium's innovative financing package for the new M6 motorway. The major elements of the long term financing package being put in place for the project by sponsors Amey plc, Sir Robert McAlpine (Holdings) Ltd, Taylor Woodrow Construction Ltd, Barr Holdings Ltd and Innisfree PFI Fund have already been completed. These comprise a successful £124.8m 8.39% secured FSA-backed bond issue led by Morgan Stanley in April and a £68.9m five part EIB facility.

THE HUNGARIAN government is forging ahead with the IPO of national telecom operator Matav on the Budapest and New York stock exchanges, despite the volatility in world stockmarkets and the sell-off in emerging market stocks. The success of this week's $213m privatisation of OTP Bank, the country's largest financial services organisation, augurs well for the $1bn Matav float -- underlying the demand for quality Hungarian stocks even in difficult market conditions.

Bahrain Bahrain International Bank is making its debut in the syndicated loan market for a $75m facility.

China The term loan arranged by HSBC Investment Bank and Société Générale Asia for State Development Bank of China closed oversubscribed and was signed this week. It was increased to $220m from $190m.

THE AUSTRALIAN government stood firm against whipsawing stockmarkets this week to press ahead with the A$12bn flotation of shares in national telecom carrier Telstra. Despite the wild market turbulence in Asia, which triggered one-day falls and gains on the Australian market of up to 10% this week, Australia's largest ever share issue remains firmly on track.

* Holland Chemical International has completed its combined primary and secondary stock offering, pricing the new shares yesterday (Thursday) at Dfl 37. The final price was towards the low end of the indicated range of Dfl 36-Dfl 40, reflecting the need to compensate investors for the volatility and downward trend of stockmarkets this week.