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The Export-Import Bank of Korea has returned to the offshore renminbi (CNH) bond market after nearly three years, to take advantage of a recent rally in the CNH swap rate and investor demand for high quality Korean deals.

Agricultural Bank of China (ABC) took a three-pronged approach to its deal on Tuesday, raising nearly $1bn across two dollar bonds and one Hong Kong dollar tranche. The bank was able to squeeze the spread on its notes to new lows, riding on the strong secondary market performance of deals from the big Chinese banks.

SK Holdings pocketed W1.12tr ($1bn) from a block trade of SK Biopharmaceuticals, but the deal hit the South Korean drug company’s share price hard, sending it tumbling more than 17%.

Peru is set to test Latin America bond market resilience to both US rates volatility and domestic election uncertainty soon as it meets fixed income investors virtually this week ahead of a proposed euro and dollar new issue.

Toyota Motor Finance (China) Co plans to launch its first auto loan securitization deal of 2021 under the Toyota Glory series next week. The originator will open the onshore auto ABS market after the Lunar New Year break with a Rmb5bn ($774m) transaction — its largest to date.

Petrochemicals producer Alpek, which is owned by major Mexican conglomerate Grupo Alfa, will buy back almost half of its $650m of 4.5% 2022s after wrapping a tender offer on Tuesday.

PGIM has pushed the market to a new tight by resetting a deal with senior notes at 104bp over three month Libor.

In 1954 Ennio Flaiano, an Italian screenwriter best-known for being one of the writers on Federico Fellini's 'La Dolce Vita', wrote 'A Martian in Rome', a satirical short story about an alien who lands his spacecraft in the Eternal City, sending it into a frenzy. Mario Draghi's arrival in Rome as Italy's prime minister just over a week ago saw a man, just as alien-looking to Italian politics as any Martian, take a seat at its very centre. His arrival has been just as sensational so far for the country and its capital markets but how effective will he be in the long-term?

Glencore, the Swiss commodity trading company, got a lukewarm response from the euro bond market on Tuesday, as investors prepared their cash piles for a flurry of deals from rare and high beta names.

The outlook for covered bond spreads has improved following this year’s rise in yields, although there is contention over whether the short or long end of the curve is the best place invest.

Fintech asset manager Pagaya hired Peter Silberstein as head of capital development, the latest addition to its asset management division. Pagaya has added five team members in the last six months, including head of originations and head of structured products.

UK Labour Party leader Keir Starmer has proposed a “British Recovery Bond” — a retail government issue that would be used to finance SME lending to help kick-start the economic recovery from the coronavirus pandemic. It can be tempting to dismiss such measures as political posturing, but there are some genuine advantages to the proposal, and it deserves its day.