Banks

Credit Suisse sold Sfr300m of perpetual non-call six year tier one capital bonds on Wednesday.

The European Central Bank on Monday fined Crédit Agricole for not obtaining permission to classify instruments as common equity tier one (CET1). GlobalCapital understands this related to ordinary shares issued in an equity raise.

Burundi-headquartered Eastern Southern Africa Trade & Development Bank has launched a $400m dual tranche loan into syndication, according to two lenders invited into the deal.

European corporate bond market participants are enviously looking at their counterparts in the financial and SSA sectors as supply started to flow again in those areas this week. There is no sign yet of any corporate bond issuers returning from the summer hiatus, but investors have clear ideas about what they want.

Investors see value in bank additional tier one (AT1) bonds, pointing to low coupon cancellation risk and attractive entry points for those approaching a call date.

Indonesia’s Modernland Realty raised $150m on Tuesday to offset some of its pressing debt maturities, becoming the country’s first high yield bond issuer since May.

The volume of new equity-linked deals in Europe is down significantly this year compared with the same period in 2017, but market participants hope for a recovery when the ECB starts raising rates.

Chinese industrial name Fufeng Group raised $350m from a bond on Tuesday, offering a coupon step-up to show its commitment to maintaining its investment grade rating from S&P. Logan Property Holdings Co also separately bagged $300m on the same day.

The pipeline of Asian IPOs headed for the US is shaping up for September, with the latest crop of issuers all starting to drum up investor interest.

Fortune Fountain Capital, a financial services firm, has hired loans banker Hei Man Leung from China Minsheng Banking Corp.

Credit Suisse has rejigged the leadership of its private bank in Asia, making Francois Monnet and Benjamin Cavalli heads of the division for north and south Asia respectively.

China Chunlai Education Group has launched pre-deal investor education for its Hong Kong IPO, according to a source familiar with the matter.