UBS

Korea Resources Corporation, or KoRes, wrapped up its annual return to the dollar bond market with a $425m five year transaction. However, bankers said the issuer paid up due to tensions on the Korean peninsula and an unexpected imminent UK election.

Wednesday proved yet another robust day for Asian bonds, with rubber company Halcyon Agri Corporation, Industrial and Commercial Bank of China’ Singapore branch and Chinese developer Times Property Holdings out for funds in the primary market.

Medical diagnostics firm Unilabs launched a €250m high yield bond with a roadshow this week, to back its acquisition of Alpha Medical. Nomad Foods is also roadshowing a €500m deal.

Russian fertiliser producer Phosagro will meet investors from Thursday for its first Eurobond since 2013.

Korea Resources Corporation, or KoRes, is marketing a 144A/Reg S bond on Tuesday. The issuer was recently downgraded by Moody’s – a second time the agency dropped its rating in under a year.

China Southern Power Grid Co. is preparing investors for its debut dollar, 144A/Reg S deal.

Malaysia’s Cagamas Berhad kicked open the Tuesday market with the launch of a new dollar offering, while Saka Energi Indonesia announced its pursuit of a new dollar deal as well.

A glimpse of the future has arrived with the publication of a report modelling the credit risk banks face from drought. The effect on loan portfolios could be severe — and the research illustrates the new kinds of risk management banks will have to do as the world’s climate becomes more volatile.

Aluminum Corp of China, Peking University Founder Group, Beijing Enterprises Holdings and Singapore’s Oxley Holdings all walked away with new bonds on Wednesday, wrapping up a blockbuster issuance week ahead of Easter.

Risk appetite propelled CEEMEA into a bullish second quarter with nearly $16bn of bonds printed in Easter week. Saudi Arabia led the charge with a $9bn sukuk, but demand for duration played into the hands of KazMunayGas which raised $1.25bn of 30 year debt.

Swiss Prime Site, LGT Bank and the City of Zurich took advantage of a quiet market, placing Swiss franc bonds with domestic investors before Easter holidays.

Order books were open for all of 10 minutes as the City of Zurich benefited from a scarcity of municipal activity to find Sfr100m ($99.5m) in a 20 year no-grow deal.