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Rating: A1/A/A Amount: Eu150m

Mandated arrangers Deutsche Bank and JP Morgan will launch syndication of the Eu150m three year facility for Zagrebacka Banka this week. The arrangers will approach a number of the borrower's relationship banks to put together the arranger group. The deal will carry a margin of 65bp over Libor and offer a top ticket of Eu50m for a fee of 50bp.

CSFB and JP Morgan have finally secured a two-thirds majority for a waiver request from senior lenders to the £470m debt facilities backing the buy-out of Brake Bros. The senior lenders had to agree to structural enhancement of potential high yield bondholders in the capital structure of the deal.

Credit Suisse First Boston witnessed a dramatic shake-up at the top of its global debt capital markets group this week, including the departure of two of its biggest fixed income revenue earners - John Walsh and Jack DiMaio. In a series of domino reactions to new management layers inserted in the CSFB securities businesses, John Walsh, former head of global debt capital markets, has resigned and Jack DiMaio, head of global credit products, has moved to Credit Suisse Asset Management and is taking five bond traders with him.

Credit Suisse First Boston witnessed a dramatic shake-up at the top of its global debt capital markets group this week, including the departure of two of its biggest fixed income revenue earners - John Walsh and Jack DiMaio. In a series of domino reactions to new management layers inserted in the CSFB securities businesses, John Walsh, former head of global debt capital markets, has resigned and Jack DiMaio, head of global credit products, has moved to Credit Suisse Asset Management and is taking five bond traders with him.

After years of prevarication the Republic of Poland has finally awarded the mandate for its first ever Samurai bond. The recipients of the keenly prized mandate were Daiwa SMBC Securities and Mizuho Securities. While the choice of the former as a bookrunner was no surprise - Daiwa has been the number one bookrunner of Samurai bonds for sovereign borrowers in the last two years - Mizuho's appearance on the top line was not expected. Indeed, the bank is largely known for underwriting yen issues for Japanese rather than foreign borrowers.

Bond markets were buzzing this week as hopes of an early end to the war in Iraq prompted investors to look beyond government debt to high quality, but higher yielding borrowers. Swapped new issuance led swap spreads lower in both euros and dollars. Dollar swap spreads were compressed to around 41.75bp at five years and 40.5bp at 10 years by yesterday (Thursday) afternoon. This represents a compression of around 4bp at both tenors since the beginning of the month, and this movement is largely due to the sudden eruption of new debt, much of which was swapped out of fixed dollars.

Rating: Aaa/AA/AAA Amount: A$100m

Rating: Aaa/AAA (Moody's/Fitch) Amount: Eu400m (fungible with Eu600m issue launched 31/01/03)

Deutsche Bank has lured one of Asia's best known China analysts back to Hong Kong to take up the head of Greater China equities research role. Jing Ulrich is joining to Deutsche Bank from CLSA Emerging Markets in New York, where she had been responsible for top institutional client relationships globally.

Sumitomo Mitsui Banking Corp is on the verge of launching a $200m term loan for Transpacific Petrochemical Indotama, for the Tuban Petrochemical project. An additional $200m loan is to be provided by Japan Bank of International Co-operation, bringing the total project funding to $400m.

After a busy year in 2002 bankers were hopeful that the Russian syndicated loan market would continue to thrive this year. So far Russia has not disappointed and it looks set to provide the bread and butter business for syndicated loan market banks operating in central and eastern Europe this year. Borrowers continue to flock to secure financing through their relationship banks at pricing which is moving south of the 300bp over Libor mark.