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* Ford Credit Canada Guarantor: Ford Motor Co

ARRANGERS of the $2.32bn quasi project financing for the Yanpet petrochemical expansion project in Saudi Arabia expect to reach final close today (Friday), Euroweek can exclusively reveal. Global bookrunner JP Morgan has received all commitments from the senior lead manager and lead manager levels with one bank still to confirm its role at the manager level.

A WIDE variety of corporate issuers and government sales is likely to pump up the supply of new equity in the Spanish market next year. This year international and domestic investors enjoyed a variety of local stocks to choose from in a market which has done well and achieved positive returns in most offerings. One of the last deals to be completed this year was the sale of shares in ACS (Actividades de Construccion Y Servicios), the local construction company. The offering was led by Merrill Lynch and Argentaria and involved the sale of 14.183m shares at an issue price of Pta3,600 for institutional investors and Pta3,500 for retail buyers. The shares were marketed under Reg S, which prohibits direct sales into the US and Canada.

South Africa The $150m (increased from $100m) three year multicurrency revolving credit, at 40bp over Libor, arranged for AECI Ltd by Commerzbank AG and Société Générale was signed on December 3.

NOMURA International spurned the looming holiday deadline and successfully sold the largest ever public sterling securitisation this week as it completed the refinancing of the Annington Homes purchase of the UK armed forces estate. The unique transaction parcelled rents on some 55,000 properties, as well as the income from the sale of properties no longer needed by the tenant, Britain's Ministry of Defence.

NOMURA International spurned the looming holiday deadline and successfully sold the largest ever public sterling securitisation this week as it completed the refinancing of the Annington Homes purchase of the UK armed forces estate.

China The bridge financing arranged by SocGen Asia for Wuhan Airlines Ltd is proceeding. Arrangers earn a margin of 30bp and front end fees of 12.5bp for commitments of $7m to $10m. Maturity is up to May 31, 1998.

Australia The A$1.925bn fundraising for PowerNet was signed yesterday (Thursday). Arrangers Chase Manhattan Australia, Dresdner Australia, and JP Morgan Australia took A$152m each.

* Bankers Trust International has launched a bond convertible into Swiss Life bearer shares. The discounted bonds mature next year and have been sold at 88.24% to offer investors a yield to maturity of 17.5%. When the bonds are redeemed buyers will receive either 100% of the principal or physical delivery of one share. The maximum size of the deal is up to Sfr59.85m and the fixed size will depend on the strength of demand. * Lead manager Prudential-Bache Securities has completed the offering of shares in Petroleum Geo-services, the Norwegian oil, coal and gas group. The deal consists of the sale of 1.2m ADSs and ordinary primary shares at $62.1875, which raised $74.625.

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THE REPUBLIC of Argentina has achieved its goal of pre-funding more than half of its first quarter 1998 borrowing needs by organising a $2bn three year loan/bond facility from local banks. The funds have been provided by the 11 local market makers in Treasury note Letes -- including JP Morgan, Chase and other international players -- and gives the republic aggressive funding costs of the higher of either the average of local CD rates plus 325bp or the result of the latest 91 day Letes auction plus 100bp.

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