Citi

Issuers stormed out of the blocks with a set of deals across the curve this week, with factors including an increase in swap spreads on the short end, a positive feeling towards the US market since Janet Yellen’s statements in March and the start of the Japanese fiscal year all credited.

Rating: Aa1/—/AAA

Guarantor: Government of Japan

The European Investment Bank has announced its intention to build a benchmark curve in Polish zloty, after selling the first public trade in the currency from a supranational or agency issuer.

The Federal Reserve (Fed) and the Federal Deposit Insurance Corporation (FDIC) have tossed out big bank plans to wind themselves up in a disaster situation, citing a string of failures in preparing the “living wills” which are supposed to guide regulators when a systemic firm goes down.

Chinese search engine company Baidu is tapping the Asian syndicated loan market for the first time, opening a $1bn dual-trancher to lenders. It is offering close to what peers paid on recent loans, despite its more concentrated business model, but there is speculation it could be lining up an acquisition, writes Shruti Chaturvedi.

Buzzi Unicem, the Italian cement and concrete group, is planning a European-targeted bond issue to tackle €510m of debt maturities this year.

Appetite for Korea Resources Corp’s offshore outing on Monday was strong despite Moody’s recent decision to review its rating for a downgrade. Not only was the issuer able to increase the bond’s size to $500m but it also found a high quality order book.

India’s Larsen & Toubro refiled a draft prospectus for the listing of its information technology (IT) services arm on Tuesday, this time eyeing a smaller deal worth about Rp13bn ($196m).

China’s Orient Securities Co is set to test market appetite for brokerages as it tees up a Hong Kong IPO of as much as $1.5bn. Its filing with the exchange comes at a time when the market environment for the sector looks good amid a broader improvement in sentiment, write Jonathan Breen and John Loh.

Bank of China Aviation is poised to meet investors ahead of its 144A return that could hit the market as early as next week, while HK Electric has mandated banks for Reg S notes.

Citi has created a new position of head of corporate banking for Asia Pacific, naming Gerry Keefe to the role.