Credit Suisse

Swiss telecom company Salt Mobile asked bondholders to waive covenants on some of its old notes while it also tapped them and sold a new floater on Thursday, all to fund a dividend to its owner NJJ Capital. The deals came to fruition but left some bankers and investors concerned about market discipline.

BlackRock announced this week that Tim O'Hara, the former head of markets at Credit Suisse, was joining the investment management firm as co-head of global credit.

Ineos Styrolution this week completed a loan refinancing with margins well below the 350bp market average for new deals — but the pricing will be replicated by the leveraged market’s top credits, said market participants.

French funeral group OGF launched a €960m cov-lite term loan ‘B’ this week as minority owner Ontario Teachers’ Pension Plan plans to increase its stake to 74%.

Tele Columbus led a band of issuers piling back into the leveraged loan market for repricing requests this week, ahead of an expected wave of new leveraged buyouts in Europe.

Salt Mobile, the Swiss telecom company, is asking an issuer-friendly HY market to tap some of its old bonds, waive covenants on them, and fund a dividend to its owner NJJ Capital with a new floater.

Kaleidoscopic corporate restructurings have long been a feature at Credit Suisse. There appear to have been three drivers – geographical balance, shuffling the deck in its investment banking activities and a noted propensity for being accident prone.

Lotte Chemical Titan, which is seeking to raise more than $1bn via an IPO in Malaysia, has added three banks to its syndicate at the bookrunner level.

Guorui Properties and Kangde Xin Composite Material Group are preparing for their respective debuts in the international debt market.

Cerba Healthcare has released price guidance of just 325bp-350bp on its €544m buyout term loan, squeezing the tightening of recent repricings even further.

Credit Suisse will hold investor meetings across Switzerland to gauge interest in a new Swiss franc additional tier one (AT1) bond. The Swiss market is confident that retail demand will push the trade to a high volume.

Tsinghua Unigroup, part of Chinese state-owned Tsinghua Holdings, is set to sign its debut international loan at $701m — more than twice the launch size of $300m.