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The recap of Safety Kleen by JP Morgan Partners has been launched via sole bookrunner Royal Bank of Scotland. Only existing lenders are being approached to participate. The debt totals £247m, including £194m of senior debt, and a £53m mezzanine facility.

Allianz Capital may soon be approaching the market to fund the recap of Four Seasons Health Care. Allianz bought the company in 2004, supported by a £350m facility arranged by Goldman Sachs. £325m was arranged as a seven year term loan yielding 300bp, and £25m was a bridge with a 100bp margin.

Following the announcement of Sir Victor Blank's departure as chairman of Trinity Mirror, private equity firms are rumoured to be eyeing the newspaper group. Interested parties include 3i and US buy-out firm Veronis Suhler Stevenson, which was said to have bid for the Daily Telegraph last year. CVC Capital Partners is also said to be close to the bid.

The auction of £650m nominal of 50 year index-linked Gilts on Tuesday failed to spark the feeding frenzy predicted a week earlier, as pension fund demand sent the yield on the linker spiralling to 0.38%. The issue was covered 1.75 times, a far cry from the three times being talked of before the auction, despite the yield on the bond at auction reaching just 0.46%, the lowest real yield since linkers were first sold in 1981.

RZB and Standard Bank will next week launch syndication of Forum Bank's $25m one year loan. Forum was last in the market with a $25m six month deal — its debut — also arranged by RZB and Standard Bank.

US bond investors' craze for hybrid capital securities reached a new height this week as they showered Wachovia with $10bn of orders for a creative and controversial $2.5bn tier one offering.

Bankers expect a mandate to be awarded shortly to arrange debt supporting Macquarie European Infrastructure Fund's acquisition of Wightlink Shipping, the passenger ferry operator it bought last June.

Sir Victor Blank, chairman of Trinity Mirror and Great Universal Stores, looks set to become the next chairman of LloydsTSB. Blank will join as deputy chairman on March 1 and should become chairman when Maarten van den Bergh retires at the bank's annual general meeting in May.

US bond investors' craze for hybrid capital securities reached a new height this week as they showered Wachovia with $10bn of orders for a creative and controversial $2.5bn tier one offering.

US bond investors' craze for hybrid capital securities reached a new height this week as they showered Wachovia with $10bn of orders for a creative and controversial $2.5bn tier one offering.

Latin American issuers flooded the international markets with about $3.4bn of bonds this week, to take advantage of the continued blind rush of investors into emerging market debt, in spite of dangerously tight spreads.

UK house builder Persimmon's £1.2bn acquisition facility via Barclays, Lloyds TSB and Royal Bank of Scotland has been launched. The loan will finance its £643m bid for rival property developer Westbury, in a move that bankers say will create the largest house building company in the UK. The facility is split into two tranches. A £800m five year term loan tranche 'A' pays an initial margin of 47.5bp and is linked to a ratings grid. Tranche 'B' is a £400m 364 day revolver that pays an initial margin of 42.5bp before linking to a ratings grid.