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EuroWeek has learned that Deutsche Bank, Goldman Sachs and Merrill Lynch are preparing to launch the £150m IPO of a company comprising the Pizza Express, Ask and Zizzi chains of Italian restaurants in the UK.

Banco Popular Español positioned itself at the tight end of the cédulas market this week with the launch of its inaugural issue, a Eu2.5bn seven year transaction.

Mandated lead arrangers HSH Nordbank and HVB have signed the Eu130m term loan for Banco Português de Negócios (Banco BPN). The facility was launched at a size of Eu75m and increased after an oversubscription. Arrangers are BayernLB, Bank of Montreal Ireland, Erste Europäishe Pfrandbrief- und Kommunalkreditbank.

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A group of 26 banks has been chosen to arrange the project financing for Qatargas III, a joint venture between state owned Qatar Petroleum and US energy company ConocoPhillips. The banks are Arab Banking Corporation, Apicorp, Bank of Ireland, Bank of Tokyo-Mitsubishi, BayernLB, BNP Paribas, Calyon, Citigroup, Commercial Bank of Qatar, Dexia Bank, DnB NOR Bank, Export Development Canada, Fortis Bank, Gulf International Bank, HSBC, ING, Mashreqbank, Mizuho, Natexis Banques Populaires, Qatar National Bank, Royal Bank of Scotland, Sanpaolo IMI, SG CIB, Standard Chartered, SMBC and WestLB.

The Republic of Italy proved this week that it still enjoys undiminished access to the bond market, despite its political and financial problems. Investors lodged Eu15bn of orders for Italy's 30 year benchmark, allowing it to print Eu6bn — the largest 30 year syndicated bond and the largest single tranche in euros this year.

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Adviser Bank of Tokyo-Mitsubishi has requested proposals to arrange the project financing loan for Sharq, or Eastern Petrochemicals Co. Banks have been asked for commitments of up to $150m. The expansion project will require just under $900m of debt, including a loan from JBIC.

The International Swaps and Derivatives Association has held a preliminary meeting to discuss setting up a bond-swap definitions template.

The 2005 definitions for interest rates and currency options may not make it out until 2006.