China: Shanghai city government is launching its biggest-ever bond issue, valued at 800m yuan, to finance infrastructure projects including construction of light rail Line 1.

Britain’s Export Credit Guarantee Department has underwritten a loan of US$26m from ANZ Investment Bank to China Development Bank to part-finance a digital optic fibre network over 6000 km of Chinese Railways routes. The Synchronous Digital Hierarchy system will be installed by Marconi Communications China Ltd.

Thailand: Property developer Tanayong has repaid a loan from Credit Suisse First Boston, allowing it to retain its shareholding in Bangkok’s Skytrain metro (RG 1.00 p23).

Ukraine: The European Bank for Reconstruction & Development is planning to lend US$51·9m towards the cost of upgrading UZ’s Kyiv - Lvov main line. The work will cover renewal of track, catenary, and power supply systems, as well as installation of an optic fibre communications network.