Credit Suisse

PQ Corp, the US inorganic chemicals producer, and Inovyn, the UK-headquartered chorvinyls producer — both partly owned by Ineos, the petrochemicals company — are marketing over $2bn of refinancing debt over the coming days.

A 10 year deal from JP Morgan on Friday showed US banks are finding more opportunities for Swiss franc funding than their European peers.

The European IPO market’s busy spring season received further encouragement this week, when its second and third major deals, for Forterra and Mediawan, were both completed — though Forterra’s was priced at the bottom of the range and edged down in trading.

Credit Suisse has hired Henrik Aslaksen, the former global head of M&A at Deutsche Bank, to a newly created role covering the bank’s most important investment banking clients. Aslaksen’s title will be “head of strategic client coverage” within the EMEA investment banking and capital markets division.

Carlyle conducted its second block trade in Applus Services shares on Wednesday night. The industrial testing and inspection company has been a poor bet for investors in its €1.2bn IPO in May 2014. Exposure to the oil and gas industry has cost it 40% of its market value.

Two privately owned Indonesian companies have hit the loan market with attractive margins on offer, marking a break from thinly priced deals by state-owned firms. But the mood among bankers is one of caution. While the outcome will provide a clear picture of the appetite for Indonesia, the syndications will face challenges. Shruti Chaturvedi reports.

Indonesia’s Chandra Sakti Utama Leasing (CSUL) has approached the loan market for $80m, in a deal that comes backed by its accounts receivable.

Mongolia has received commitments from Chinese lenders for its debut syndicated loan of up to $500m.

Forterra and Mediawan have closed and completed their IPO bookbuilds this afternoon, though Forterra’s will be priced at the bottom end of the range.

‘Rogue traders’ have struck again — Tijane Thiam, Credit Suisse’s chief executive, doesn’t seem sure quite how his traders ran up such large positions, but they’re being blamed for $750m of losses and writedowns since October 2015. The Swiss bank’s distressed debt desk joins a long line of unauthorised big losers stretching back four decades.

UBI Banca has begun marketing a tier two transaction, which will be the first capital sale from an Italian bank since January.

Manulife Financial is set to kick off bookbuilding for its Singapore-bound $500m real estate investment trust (Reit) IPO next week, if feedback from investor education is positive.