Credit Suisse

Bank of America Merrill Lynch has made sweeping changes to its European equity capital markets franchise and has hired Credit Suisse’s Jerome Renard for a new position of head of EU ECM.

BMC Software was set to print $2bn of triple-C rated bonds this week, as it changes sponsor hands from Bain and Golden Gate to KKR. The new owner was also pushing for some of the loosest covenants in the market.

Each of the first three days of this week saw a jumbo bond deal in the US corporate bond market, but the volume of other deals dwindled as the week progressed, and Thursday struggled to achieve $1bn of issuance.

Tsinghua University Science Park, or Tuspark, raised $350m from its bond sale on Wednesday, notably helped by 14 bookrunners.

Shinhan Financial Group Co’s debut dollar Basel III additional tier one (AT1), priced on Tuesday, sparked a debate between Asian bankers, analysts and investors. The deal was rare, being issued through the bank’s holding company rather than using the opco structure which is much more common in Asia. That left many wondering what premium, if any, issuers must pay for holdco deals, writes Addison Gong.

Credit Suisse and Standard Chartered are providing a $1.1bn loan to back the delisting of Indian metal and mining company Vedanta Resources from the London Stock Exchange.

Shinhan Financial Group Co on Tuesday issued its debut dollar Basel III additional tier one deal at the holding company level, becoming one of the very few Asian issuers to have done so. But bankers, analysts and investors were split on whether and how much the holdco premium was because of a lack of precedents in Asia.

ASK Investment Managers has filed a draft prospectus with India’s securities regulator as it plans to go public through an IPO of new and existing stock.

Mozambique’s bondholders have presented a restructuring proposal to the government, following their rejection of Mozambique’s proposed package in March.

The funding for KKR’s acquisition of BMC Software is set to add almost $2bn of high yield bonds in euros and dollars this week, the last portion of a cross-border, multi-billion debt deal that has enlivened the leveraged finance markets.

Credit Suisse has rehired a senior FIG banker from Morgan Stanley to become co-head of EMEA debt capital markets — a role which will be based in Paris, rather than London.

Four former Credit Suisse loans bankers who left the bank earlier this year have resurfaced in the market, according to sources.