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Around eight banks attended a management meeting for the recapitalisation of $685m of debt facilities which originally backed the buy-out of media company BTR Paper Technology by Apax Partners in 2000. The new company is now called Xerium. The new facility is split between a $685m piece of senior debt and a $125m piece of unwarranted mezzanine.

Shares in Zurich Financial Services went ex-rights yesterday (Thursday), after several days of strong trading in the company. Zurich launched its $2.5bn offering as expected at Sfr65 last Friday, with the underwriters earning 3% fees on the deal.

Rating: AAA (Fitch) Amount: Eu100m Landesschatzanweisung series145

Rating: Aa2/AA/AAA Amount: Eu100m

Rating: AA (S&P) Amount: Sfr50m

Rating: Aa1/AA+/AAA Amount: Eu100m Landesschatzanweisung series 414

Tarik Senhaji is officially the desk swapping king. The man, who started life running International Finance Corp's (IFC) EuroMTN programme, has been snapped up by Crédit Agricole Indosuez to head up its EuroMTN business in London. After a three year stint at the IFC, Tarik took up the role of head of desk at SG but then moved to Dresdner Kleinwort Wasserstein's structured solutions group. Leak wishes him well in his new position but please Tarik, no more moves; we only have so many entries under T in our contact book.

Rating: Aa2/A+/AA Amount: Eu500m tier one capital

The Region of Lombardy achieved its ambition to create a benchmark in the 30 year sector of the global dollar market this week with a $1bn inaugural bond issue lead managed by Merrill Lynch and UBS Warburg. Despite being marketed in a period of extreme volatility, Lombardy's impressive credentials - it is the richest region in Italy, contributes over 20% of the country's GDP and is rated a notch higher than the sovereign - enabled the borrower to penetrate the US investor base in style. The order book was 1-1/2 times oversubscribed, allowing the transaction to be priced at the tight end of the range at 73bp over Treasuries, or 30bp over mid-swaps.

Mantaray Partners, the debt markets headhunting boutique, is being sued by a former employee, Aemilia Lovatt, who left the firm last year. The claim, which is believed to be for up to £200,000, will be heard at an employment tribunal in London next week.

Mantaray Partners, the debt markets headhunting boutique, is being sued by a former employee, Aemilia Lovatt, who left the firm last year. The claim, which is believed to be for up to £200,000, will be heard at an employment tribunal in London next week.

Compiled by Holger Kron Deutsche Bank, Frankfurt