BNP Paribas

Export-Import Bank of Korea (Kexim) is making a return to the Samurai market with a three tranche offering.

Investors should consider buying Chinese banks and the HSCEI via an April 2014 105% call at 1.9%, a June 2014 105-115% call and hedging the downside via a volatility spread. The volatility spread should be executed by buying a June 2016 80% put on the HSCEI at 7.79% and selling a June 2016 80% put on the S&P 500 at 4.22%, according to strategists at BNP Paribas.

Brazilian lender Banco Safra sold its debut Swiss franc deal on Thursday. A strong response from investors allowed the bank to sell the largest deal in the currency from a LatAm financial.

Adira Dinamika Multi Finance launched its $200m facility to the market on Friday, February 28, pricing the deal at 175bp over dollar Libor — and managing to save 5bp over its previous loan.

Pohjola Bank assumed the sole responsibility for euro senior unsecured supply this week as FIG syndicates had their first glimpse this year of an increasingly frustrating trend — banks turning down excellent issuance conditions because of reduced funding needs.

Covered bond bankers have developed a penchant for testing market appetite on days when key buy-side accounts are likely to be thinly staffed it seems.

Nationwide Building Society has thrown its hat into the ring for selling additional tier one debt, mandating lead arrangers to gauge interest in what would be the first such deal to be denominated in sterling and the first AT1 paper to be sold by a non-bank institution.

Banca Popolare di Vicenza is preparing to launch a platform to issue minibonds in Italy, believing it has solved several of the practical challenges facing this nascent market for bonds from small and medium sized enterprises.

The dam opened again in the US corporate bond market this week and a torrent of issues poured out, as companies emerged from earnings blackouts and turned the week into the busiest for corporate high grade issuance so far this year.

Chinese property developer Sunshine 100 China Holdings started receiving bids for its HK$2.4bn ($310m) Hong Kong IPO on Wednesday, with books fully covered by anchor orders before launch.

Hong Kong's IFC Development is expected to make its first appearance in euros soon, with bankers preparing to launch a three year deal following a successful roadshow in Europe.

Indonesian company Adira Dinamika Multi Finance has picked four banks to arrange a $200m three year loan, just three months after closing a similar sized facility.