Greater China

Hong Kong’s Regal Hotels International Holdings executed a swift dollar trade this week, getting in and out of the market in just three days. Despite being unrated and with few comparables offering guidance, the firm managed to slash pricing by 30bp and found plenty of support.

Simon Galvin has left Goldman Sachs to join Deutsche Bank as head of ECM syndicate Asia, filling a role left vacant since March, according to sources close to the move.

Credit Suisse has made three senior hires in its China investment banking and capital markets (IBCM) team, in the latest expansion of its onshore presence.

Deutsche Bank has hired Simon Galvin to be its new head of ECM syndicate Asia, according to a source familiar with the matter.

The green bond market is set for some new action with Link Real Estate Investment Trust kicking off a dollar transaction on Thursday.

Shandong International Trust Corp, which is planning a $300m Hong Kong listing, is set to ask for approval for the deal in September, according to a source familiar with matter.

The renminbi is joining the IMF special drawing rights (SDR) later this year, but that achievement does not mean mission accomplished for China’s authorities. For Beijing to achieve its stated goals of making the RMB a reserve currency and the SDR a real world currency more steps will be needed, according to leading monetary policy experts.

Singapore’s Olam International is seeking investors for a subordinated dollar perpetual non call five trade, opening books on Wednesday morning with initial guidance in the 5.5% area.

The BRICS New Development Bank (NDB) is set to venture into the bond market for the first time next week with a Rmb3bn ($448m) offering to be sold in China’s interbank bond market.

Chinese local government financing vehicles have been on a roll recently, pushing out a parade of deals in the international bond market. The latest to join the fray is Chongqing Nan’an Urban Construction and Development, which raised $800m from a well received deal on Tuesday.

Chinese logistics firm ZTO Express is seeking approval for an IPO in the US that could raise up to $2bn, according to a source familiar with the matter.

Global Logistic Properties this week became the first international corporate to publicly issue a Panda bond, successfully closing a Rmb1.5bn ($224m) dual-tranche offering on Monday.