Credit Suisse

Upcoming changes to credit default swap (CDS) definitions could have a positive effect on the contingent convertible securities (CoCo) market, allowing investors to buy CDS protecting against the conversion of tier two securities into equity for the first time. The new hedging options are expected to tighten spreads in the CoCo market and could help to avoid dramatic sell-offs.

Credit Suisse, which on August 7 priced a 364 day €1.25bn senior unsecured deal, is back in the market with a tap of its €1.75bn 1.375% November 2019 senior unsecured bonds.

US corporate issuance slowed through the week as books thinned and issuers offered concessions in order to get deals done before the summer holiday season.

The Swiss franc market’s summer hiatus looks to be coming to an early end with Credit Suisse and Wells Fargo selling well received deals in Swiss francs this week.

Wells Fargo burst into the Swiss franc market with its debut trade in the currency on Wednesday. The issuer’s solid name recognition among local investors and an appreciation for its large retail banking operation allowed the issuer to exceed its original size ambitions despite pricing comfortably inside of other US banks.

E-commerce firm Alibaba finally looks ready to price its long-awaited jumbo IPO, after it emerged this week that it will begin meeting investors in early September.

The Swiss franc market’s summer hiatus looks to be coming to an early end with Wells Fargo set to sell its debut Swiss franc trade on Wednesday afternoon, opting for a dual tranche print. The deal adds to a recent spate of issuance, which stands in contrast to a moribund primary market in euros.

Credit Suisse received an enthusiastic response from investors for a rare appearance in its home currency on Tuesday, outstripping its ambitions for volume as orders poured in for the dual tranche print of short dated floating rate notes.

E-commerce giant Alibaba finally looks ready to price its long-awaited jumbo IPO with news emerging Wednesday that it is expected to begin a roadshow in the first week of September.

Chinese real estate developer Cifi Holdings will be kicking off a non-deal roadshow in Asia later this week after announcing strong mid-year financial results on Tuesday, August 12.

Chinese mobile game distributor iDreamSky has raised $141.5m from its Nasdaq IPO, with the deal oversubscribed just hours after books opened. The strong interest from investors meant that the leads not only managed to price the IPO above the guidance offered, but they were also forced put a cap on order size.

Two leveraged finance bankers, one focused on Spanish corporate origination and one focused on financial sponsors, have left Barclays to join Credit Suisse's leveraged finance and sponsors team.