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Drax Group, the UK energy holding company, has scheduled a roadshow for Wednesday and Thursday for a £500m fixed and floating rate senior secured bond offering, following its acquisition of Opus Energy earlier this year.

Russian fertiliser producer Phosagro will meet investors from Thursday for its first Eurobond since 2013.

The French presidential election saga has taken another twist, with far-right candidate Marine Le Pen’s chances slipping — but those of Jean-Luc Mélenchon, from the other extreme of the political spectrum, rising. Asian investors are pulling back from deals until the election hurdle is cleared, say issuers — but the rise of Mélenchon may also provide an earlier than expected relief rally.

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The euro high yield market closed the week before the Easter break in strong form, with bonds from Burger King France and Colfax, the US gas company.

Bank of China hit Asia's debt market hard on Tuesday, unleashing a huge deal spanning four currencies and six tranches. The $3.1bn-equivalent deal was designed to make a statement to the market that it should not forget China’s Belt and Road initiative, DCM bankers said. Morgan Davis and Addison Gong report.

Chinese corporates and FIGs contributed to most of the primary supply in Asia DCM on Tuesday, with China Oil and Gas Group, Yida China Holdings and Citic Securities snapping up a combined $1.45bn.

Korea Expressway Corp snapped up $400m on a busy Tuesday that saw eight bonds marketed in Asia ex-Japan. Although floating rate notes are gaining popularity in a rising rate environment, the region’s bond market will continue to be focused on fixed rate deals, reckoned market participants.

BlackRock added one year to a $4bn March 2021 five year facility this week, with over 30 banks piling into syndication.

Wobbles in eurozone government bond secondaries this week failed to deter a strong showing from a pair of public sector issuers in primary on Tuesday. Unédic found strong demand and tightened from guidance on its longest dated benchmark ever, while Austria broke a series of records with a 10 year euro benchmark.

The pace of borrowing has slackened for public sector borrowers as Easter approaches but a few are still out hunting for second quarter funding.

Korea Expressway Corp joined the flurry of bond launches in Asia on Tuesday, marketing a three year floating rate dollar note.