During December 2007, Arcor structured a USD 210 million A/B loan transaction, to finance capex and to refinance existing indebtedness of the company. The 10-year A-loan that was fully underwritten by IFC amounted to USD 130 million. The 6-year B-loan amounted to USD 80 million. The deal was oversubscribed. Calyon acted as a Lead arranger in the B-loan transaction. This key transaction for Calyon Argentina will help to develop a growing relationship with one of our main prospects during 2007. With about USD 1.8 billion in sales and USD 1.1 billion in assets, Arcor is one of the most important confectionary companies in Latin America and the largest player in the confectionary, chocolate, and cookies industries in Argentina.