CS wins Civica as cajas step up capital pace

Banca Civica, a group of Spanish savings banks hoping to launch an IPO this year, mandated Credit Suisse as sole global coordinator of the deal, it said on Wednesday. The decision came during a week in which the Bank of Spain launched a lengthy defence of the caja sector following the passage of a new law on capital which could give institutions planning public listings more time to carry out the operations.