NO. 2


Financial and Banking News

Regional Financing

Banks Agree Landmark Algerian Refinancing

A core group of eight banks has agreed to syndicate two medium-term loanstotaling $1.5bn for Algeria. The Algerians are expected to use the money topay off short term debt falling due between 1 October and 31 March 1993. Thenew money will comprise two tranches. The first (Tranche A) will permit therefinancing of maturities on credits with an original minimum duration of 2years....