Credit Suisse

Avago Technologies, the US semiconductor components maker, has increased the €500m tranche of its term loan ‘B’ to €900m on strong demand, in another sign of the European leveraged loan market’s competitiveness.

Swiss franc issues from international borrowers have declined markedly in the last two weeks with syndicate bankers blaming basis swaps which have moved more deeply negative.

Shares in Solvay, the Belgian chemical company, closed at €103.65 on Thursday, up 3.1% since Monday night, after shareholders voted to approve the €1.5bn rights issue to finance its takeover of Cytec Industries, the US maker of advanced materials.

Credit Suisse’s withdrawal from primary dealerships has scared the market, while regulatory change is hurting other banks still in the business. Now issuers must take responsibility for their own liquidity — and that means doing bigger deals.

Zhuhai Huafa Group completed Asia’s first offshore renminbi denominated bond in close to a month, raising Rmb1.5bn ($235m) with a three year offering on November 18.

Avago Technologies, the US semiconductor components maker, has increased the €500m tranche of its term loan ‘B’ to €900m on strong demand, another sign of the European leveraged loan market's competitiveness at the moment.

UBS is planning to swap senior members of its China onshore and offshore teams as it looks to further strengthen its mainland business, according to an internal memo seen by GlobalCapital Asia.

Bankers and investors on Wednesday said the failure of Veritas Technologies' $2.5bn bond deal — which was pulled along with an accompanying $3.3bn loan package on Tuesday — showed evidence of familiar weaknesses and errors in the European high yield market.

The weakness of the US leveraged finance market was brought home to market participants with a jolt on Tuesday, when the Carlyle Group, which is buying Veritas Technologies, a US data storage company, abandoned its attempt to raise $3.3bn of debt for the deal.

Pfandbriefbank, the Swiss mortgage lender, raised Sfr754m ($748m) in a four tranche bond on Tuesday, drawing a strong demand from insurance investors in the Swiss domestic market.

Geopolitical fears in the wake of the attacks on Paris over the weekend have been not enough to overcome the effect on futures prices of a large supply glut.

Credit Suisse has put two members of its medium term notes team at risk, including managing director and desk head Julie Edinburgh, GlobalCapital understands.