Credit Suisse

Credit Suisse has boosted its China equity research coverage, hiring 11 analysts to its Asia Pacific research team in recent months.

Banca Carige has launched its €560m equity capital raising, after two days of frenetic talks on Thursday and Friday, following the bank’s surpise announcement on Thursday morning that it had been unable to form an underwriting syndicate. Several new investors have agreed to invest in the deal, which will be at 60 new shares for every one held.

Cofco Womai, an online food products retailer, began investor education for its potential $600m Hong Kong IPO on Monday, said a source close to the deal.

Indonesian energy company ABM Investama reopened its five non call three year bond from July on Monday, looking to add to the original $300m print.

Home Credit Vietnam has put together a $80m borrowing with four banks. The deal marks the firm’s second loan in the international market.

Two companies made their investment grade bow on Thursday as an improvement in sentiment encouraged borrowers to capitalise on decent conditions and wrap up funding in the final weeks of the year.

Banca Carige, the Genoese bank, is struggling to save its recapitalisation plan, after failing on Thursday to launch its expected €560m rights issue, leaving its future in doubt. With several Italian and Spanish banks having collapsed in the past few years, market participants will be watching this latest test of Europe’s systems for dealing with faltering banks, write Jon Hay, Sam Kerr and Tyler Davies.

Credit Suisse has seen several senior departures from its Asian equities business, with Nicole Yuen and Ronald Cheung leaving the bank.

Thailand’s state-owned energy giant PTT cashed in its stake in Star Petroleum Refining this week, using a clean-up block trade to raise Bt3.71bn ($112.2m), according to a source close to the deal.

Investors are keeping pace with heavy issuance in the European leveraged loan market, with ticket sizes increasing in response to a rush of jumbo sized loans this week, including a $2.4bn equivalent deal from Paysafe.

Swiss telecom group Salt Mobile printed a high yield fixed rate issue on Tuesday, its second deal this year, as it replaced floating rate notes with new bonds. They were priced at the wide end of guidance.

CVC and Ardian charged up the leveraged loan deal pipeline with new buyouts of European businesses in Ireland, Greece and Spain this week. A strengthening European economy is likely to attract more, said market participants.