HSBC

Goldman Sachs has relocated one of its most senior M&A bankers from Hong Kong to London, according to an internal memo seen by GlobalCapital Asia.

The Singapore branch of Industrial and Commercial Bank of China has become the lender’s first offshore unit to issue a fixed rate dollar bond this year, raising a larger than expected $800m.

Tianjin Rail Transit Group (TRT) ventured into the international bond market for the first time on Wednesday and is receiving bids for a $500m dual-tranche offering.

Daimler’s thirst for euro denominated debt was on show once again on Tuesday as it tapped the market for a €3.25bn triple tranche deal, the third time this year it has used the structure.

Chemicals producer Inovyn on Tuesday began the roadshow for a €300m secured bond that will replace a portion of term loan ‘B’ funding being issued to support its full takeover by Ineos.

KommuneKredit and the State of North Rhine-Westphalia (Land NRW) joined NRW.Bank in lining euros deals on Tuesday in a week bankers had expected to be hobbled by holidays.

Vodafone has mandated six banks for the IPO of its Indian arm, which could raise up to $2.5bn, according to sources close to the situation.

Ezdan Holding, a Qatari property company, has mandated two banks for its debut sukuk and is embarking on investor meetings on Thursday.

Better than expected first quarter results from HSBC on Tuesday demonstrated the unfashionable truth that giant universal banks do get a diversification benefit, even when financial markets are in turmoil and interest rate margins are under pressure.

Chinese regulators gave Mainland-based corporates more breathing space by simplifying access to offshore borrowing and injecting more dollar liquidity in the onshore foreign exchange (FX) market on April 29.

HSBC’s Asia business took a hit in the first quarter of 2016 with profits from the region slumping. But there were some pockets of hope, with syndicated lending and M&A activity in China driving growth for the UK-headquartered lender.

Industrial and Commercial Bank of China’s Singapore branch has ventured out to the dollar bond market straight after the end of Labour Day holidays, launching a three year offering on Tuesday.