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Finance

01 Jul 1997

Canada: Short line operator RaiLink Ltd plans a C$25m share offering, and is due to be listed on the Toronto stock market this month.

Estonia: The European Investment Bank is providing half of the estimated US$35·5m cost of track repairs on 70 km of EVR main line between Tallinn and the Russian border.

India: Indian Railway Finance Corp's Rs1bn bond issue has been oversubscribed; the closing date was extended by 15 days to May 31.

Morocco: Oncfm has secured a US$85m loan from the World Bank; purchase of seven new locos is among projects to be funded.

Philippines: Bechtel Enterprises and GE Capital Asia have signed a memorandum of understanding with Ayala Corp to confirm their involvement in the US$600m MCX Manila - Calabarzon Express project (RG 5.97 p271).

USA: Voters in six counties around Denver will vote in November on a $5·9bn finance package proposed by the Regional Transportation District to fund extensions to 'The Ride' light rail line and other transport schemes; sales tax would be increased from 0·6% to 1%, and fares increased.