Citi

Korea Development Bank has made a bold return to dollar bonds in a deal that bankers claim scored one of the tightest ever spreads for a Korean name. The pricing drew plenty of criticism, but the deal’s defenders are hailing the trade as a success, preferring to focus on the quality of the order book.

Global Yatirim Holding, the Turkish investment fund, on Monday abandoned the planned Istanbul IPO of Global Liman Işletmeleri, the cruise port operator it owns, because of low demand for the local tranche of the deal.

Cofinimmo, the Belgian property company, has made a return to equity capital markets after a two year hiatus, raising €285.4m ($320m) via a one-for-six rights issue.

A pair of core eurozone agencies are set to dip into the short end of the dollar curve on Tuesday, but more issuance could come further out the curve.

DP World, the Dubai-based global container ports operator, has released price guidance for a dollar benchmark five year bond at 180bp over mid-swaps.

Korea Development Bank (KDB) is out in the international debt market this week, hoping to receive better reception than its last dollar bond in September 2014.

Egypt’s Integrated Diagnostics Holdings rose 26% on Wednesday, its first day of trading in London, and has risen a further 11% since then, after the firm priced its massively popular rebooted IPO.

China Merchants Bank (CMB) New York branch scored an international bond market debut on May 7, receiving strong support from Asian investors but leaving enough money on the table to embrace the price demands of US investors. The borrower is the first of a string of Chinese banks lining up to sell bonds through their US branches.

Swiss cement maker Holcim is in a stand-off with its relationship banks over whether it can receive negative interest payments on its Swiss franc revolving credit facility, amid deeply negative interest rates, writes Elly Whittaker.

Europe’s insurers are planning a raid on the tier two market in the second quarter, but may have to wait until a growing pipeline of bank tier two is cleared.

Rating: Aaa/AAA/AAA

The dollar market is providing public sector issuers with an opportunity for primary issuance as other major currencies — euros and sterling — are wracked with uncertainty.