Nomura

Ceva Sante Animale, the veterinary vaccines maker, expects to receive initial commitments to a €668m-equivalent term loan on Friday, as it seeks to refinance debt using an aggressive covenant-lite structure.

Spanish pharmaceutical company Almirall wants to issue €325m of debut high yield bonds to refinance debt.

China Zhongwang Holdings opened up a $500m three year term loan to the market on Friday, March 14, via six mandated lead arrangers and bookrunners. But for lenders eyeing the deal, the top level is still up for grabs.

Nasdaq-listed China Mobile Games and Entertainment Group (CMGE) is tapping the US equities market for $100m of new capital, launching a placement of new American Depositary Shares on March 14.

Investors in long dated senior unsecured debt appeared to have abandoned their yield targets this week, sending coupons below 3% on a Banque Fédérative du Crédit Mutuel fixed rate transaction, amid one of the busiest weeks of activity in the senior unsecured financials market this year.

Bank of Ireland returned to the covered bond market on Tuesday to issue its fifth deal since November 2012, when it returned after the Irish sovereign debt crisis. The transaction was well oversubscribed with plenty of orders, but less spectacularly so than on previous issues.

Daniel Mamadou, head of global finance for Asia ex Japan at Nomura, left the bank on March 7 after just over two years. Chris Chan, head of risk solutions and treasury for Asia ex Japan has also left.

Aluminium manufacturer China Zhongwang Holdings is seeking a $500m three year loan, expected to launch into syndication this week via a group of six banks.

Spanish pharmaceutical company Grifols has cut the traditional euro premium on its new $4.8bn-equivalent refinancing loan package to achieve identical margins on the euro and dollar drawn tranches.

The senior unsecured market started with a bang on Monday, despite the European market softening late on Friday.

Export-Import Bank of Korea (Kexim) printed the second-largest ever Samurai by a Korean issuer on Thursday.

Syndicate bankers are primed for a busy period in dollars next week following the smooth execution of four benchmarks in the currency this week despite uncertainty and volatility caused by the situation in Ukraine.