Credit Suisse

A pair of European public sector borrowers are poised to bring five year dollar benchmarks on Tuesday, a move away from last week’s spurt of three year deals.

Holland's NIBC Bank was out with a tap of its July 2018 senior unsecured bond on Monday, originally issued on January 19 this year.

Guarantor: Financial Market Stabilisation Fund of the Federal Republic of Germany

Aareal Bank this week became the second German issuer this year to price a US dollar denominated Reg S Pfandbrief. It follows the lead of LBBW which priced a similar deal two weeks ago. Though the actual funding converted back to euros will have been nominally higher than what it could have achieved in euros, savings will have been made on swaps costs.

Tidjane Thiam should resist the temptation to trash Credit Suisse’s investment bank and focus on the bigger job of improving the private bank, says David Rothnie.

Despite a very strong day for European stocks, with the Euro Stoxx 50 up 2.3%, no equity accelerated bookbuilds have been conducted tonight. The three deals yesterday all appeared to go well.

Credit Suisse has suffered three recent departures from its credit trading business, with all three said to be heading to jobs elsewhere.

Malaysia’s Qualitas Healthcare Corp kicked off pre-deal investor education for its $150m IPO on Wednesday, hoping to ride on the valuations of healthcare stocks in the country.

Canada is taking indications of interest on a three year dollar benchmark, amid a busy week of SSA issuance in the currency.

Market orthodoxy is that UBS made an astute move by cutting back its investment bank in 2012, and that Credit Suisse’s hiring of Tidjane Thiam is a prelude to it doing the same. But how true is that – and should Thiam sharpen his axe?

Aldermore’s share price rose 12% on Tuesday morning, when it began trading in London after the UK challenger bank found success in its second IPO attempt.

Credit Suisse is looking to move beyond its recent image problems with the surprise announcement that chief executive Brady Dougan will be replaced in July by Prudential plc head Tidjane Thiam.