Credit Suisse

Credit Suisse has made a number of hires from other banks in investment grade trading for its London office, according to an internal memo seen by GlobalCapital.

SMC Global Power Holdings Corp (SMCGP) sold a rare perpetual bond on Tuesday, proving that investors still like the format and the rarity of a Philippines credit.

Despite the very attractive conditions in Europe's corporate bond market in recent weeks, some less regular issuers have missed out on them because they were scared off by the rough markets at the beginning of the year.

Sterling and Wilson Solar, the solar power business of Indian conglomerate Shapoorji Pallonji Group, is eyeing a listing of up to Rp45bn ($648m), having filed a draft prospectus this week.

CLO anchor investor Norinchukin Bank is said to be looking at a full calendar of deals in the next two months, leaving some managers not on the Japanese bank’s list planning to revive structures not seen since before the last crisis in a bid to drum up interest and improve the arbitrage function of their CLOs.

The Arabian Centres Co, a Saudi Arabian owner and operator of shopping centres, has launched a listing on the Saudi stock exchange.

Nexi, the Italian payments company, has fallen by almost 8% on its first day of trading after its Milan IPO last week. High volume selling at the beginning of the day has hurt the stock.

Warner Music Group has launched a €195m add-on to its 2.625% 2026 notes, originally printed as a €250m deal as the market deteriorated in October last year. It plans to use the new funds to refinance its 2022 notes.

Three Chinese property companies raised a combined $1.625bn from international bond sales on Monday, continuing the flow of high yield paper into the offshore market.

Credit Suisse will increase its stake in Credit Suisse Founder Securities (CSFS), the firm it owns as a joint venture with Founder Securities, to 51%, making it the latest foreign bank to take a majority holding in its China JV.

Last week's brief quieter spell for investment grade corporate bond issuance in Europe continued this week, with little appearing on screens. What did appear, however, tantalised many investors. On Monday, Sika, the Swiss chemicals and building materials company, managed to slash its pricing while achieving plenty of oversubscription on its first ever bond issue in euros, as it financed its planned acquisition of Parex Group.

Chinese smart wearable technology company Huami is issuing new shares through a follow-on American Depositary Shares (ADS) offering of up to $150m.