Greater China

Hong Kong-based Zhongtai Financial International has turned to offshore investors with an inaugural dollar bond backed by a keepwell deed from Chinese brokerage Zhongtai Securities.

Credit Suisse’s head of equity-linked origination for Asia Pacific is retiring from the industry after 17 years with the bank, sources said.

Transport and tourism services provider Zhuhai Holdings Investment has sealed a successful return to the loan market through an increased HK$2bn ($255.7m) financing. The company, which tapped offshore liquidity after two years away, launched the deal at HK$1.5bn.

Peugeot Citroën’s joint venture in China is coming back to the ABS market on August 22 after a year-long absence. The automaker will approach investors with only one tranche, trimming from the two tranches offered on its debut. But that will not impact the size — the originator plans to triple its fund-raising with a Rmb3bn ($449.8m) offer.

Chinese real estate company Cifi Holdings printed its first perpetual bond on Tuesday, raising $300m. But although the company hit its target, it opted for an aggressive pricing strategy and orders plummeted from over $4bn to $1.1bn.

A $300m three year fundraising for pharmaceutical company China Medical System Holdings has generated a strong response, with 24 banks forming the syndicate.

Chinese live streaming platform YY has raised $402.5m after taking advantage of a surging stock price to sell a block of its American Depositary Shares (ADS).

Wing Tai Properties grabbed an open window in the Singapore dollar market this week to raise S$160m ($117.5m), leveraging its sister company’s credentials to woo investors.

Short-dated CNY swaps have been lightly offered and the 2s/5s NDIRS curve slope has steepened slightly. Meanwhile, the People’s Bank of China is considering expanding its reverse repo operations and its Macro Prudential Assessment reporting requirements have been tweaked, writes Deirdre Yeung of Total Derivatives.

Cheung Kong Infrastructure Holdings hit the market on Wednesday morning local time, marketing a new subordinated perpetual non call five fixed-for-life dollar transaction.

Orient Securities Company, listed and operating in Hong Kong as DFZQ, is looking to issue offshore debt, according to a filing with the Hong Kong Stock Exchange.

Chinese biopharmaceutical firm Zai Lab has made its plans for a $115m IPO of American Depositary Shares (ADSs) public, filing a draft prospectus with the US regulator on Tuesday.