Citi

The Export-Import Bank of China is poised to return to the offshore bond market this week, lining up banks to hold investor calls for a dual-currency, triple-tranche offering.

The UK Debt Management Office (DMO) has mandated four banks for its re-opening of the 2.5% 2065 Gilt, which it has scheduled for the week beginning April 25, 2016.

Three public sector issuers returned to the Kangaroo bond market this week to raise a combined total of A$850m ($652m).

Kia Motors Corp had a stellar response to its first dollar outing in almost five years, selling a dual-tranche bond on the back of what bankers say was one of the biggest order books achieved by a South Korean issuer. The combination of the strength of Kia's credit and its rarity value proved to be a winning recipe.

Panama's Global Bank Corp has hit the Asian loan market for a $104m dual-tranche syndicated facility to refinance existing debt.

Steinhoff International, the South African furniture maker and goods retailer that has been on an acquisition spree, raised €1.1bn on Thursday with a convertible bond that bucked the recent trend of deals that have struggled, partly because it was the kind of simple, traditional structure investors like.

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.