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NEWSQUEST Media Group Ltd, the regional newspaper publishing company, formed last year through KKR's purchases of Reed Regional Newspapers and Westminster Press, is in the initial stages of tapping the market for a major new working capital facility. The £250m financing, which is being arranged by the company's traditional lead Credit Suisse First Boston, is being put in place in connection with the group's planned flotation. In addition to providing the company with working capital for its ongoing needs, the new facility will also be used to refinance the outstanding element of the £205m and $100m loan signed last December.

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Corporates Euroweek hears early reports that P&O is quietly looking to tap the market for a new $120m or so facility. Details of the financing, which is being arranged by HSBC Investment Bank, are still in the early stages of emerging. The 12 year parent-guaranteed financing is being used to fund containers.

NationsBank has completed a $530m revolver for Tech Data Corp. Pricing is based on the company's EBIT to interest ratio and its senior debt to capital ratio. The CD margin range is 50bp to 67.5bp, the Libor margin range is 37.5bp to 55bp and the commitment fee range is 12.5bp to 17.5bp. Co-agents for the loan are Barnett Bank, Bayerische Vereinsbank, Credit Lyonnais, Deutsche Bank, First National Bank of Chicago, Royal Bank of Canada, Bank of Nova Scotia and CIBC. Participating lenders include First Union National Bank, Banque Nationale de Paris, SunTrust Bank, Natexis Banque, Dai-Ichi Kangyo Bank, Dresdner Bank, Mellon Bank, PNC Bank, Sakura Bank, SouthTrust Bank and Sumitomo Bank.

Extendicare Health Services Inc has secured an $800m credit from NationsBanc Capital Markets Inc. The facility is split into a $200m six year revolver, a $200m six year term loan, a $200m seven year term loan and a $200m 60 day term loan. Pricing for the seven year and 60 day facilities is set at 100bp above Prime or 200bp above Libor. Pricing for the six year facilities is based on the company's leverage ratio. The Prime margin range is Prime flat to 100bp, the Libor margin range is 75bp to 200bp and the commitment fee range is 25bp to 50bp.

Czech Republic Chase Manhattan plc and Citibank NA have completed syndication of their punchily priced $400m multicurrency revolving credit for EuroTel Prahia Spol sro.

Chase Manhattan plc is in the market with its recently mandated $250m revolving credit for Enron Corporation and its overseas subsidiaries. Prior to launch, the 364-day facility, which may be drawn in US dollars, sterling, Deutschmarks or Norwegian kroner, was offered to a pre-selected group of potential co-arrangers. Three banks -- Barclays, Christiania Bank and WestLB -- have signed up.

WHAT price the soon to be mandated Ffr10bn revolving credit being sought by first-time borrower French railtrack operator RFF? Until recently, the market was set to price the deal off the recently completed jumbo for 100% risk weighted France Télécom. However this week's announcement that RFF, a state owned corporate with EPIC status, had been assigned a surprisingly low 20% risk weighting has got most bidders reaching for their calculators once again.

India DKB Merchant Bank (Singapore) and NatWest Markets have relaunched the $65m facility for ITC Ltd.

MERRILL Lynch International Ltd is in the early stages of launching an innovative financing for Rome-based football team Societa Sportiva Lazio. The Lit50bn financing, which is being discreetly offered to the syndicated loan market, was presented to potential lenders at a bankers meeting yesterday (Thursday).

Bahrain Arab Banking Corp, which made its Euroloan market debut in 1995, is set to return to the syndicated loan market for a major new facility.

Ghana The heavily oversubscribed, but punchily priced $275m receivables backed trade finance facility being arranged for Cocobod by co-ordinating lead arranger Citibank International plc is to sign today (Friday) at the Savoy Hotel in London.