Hong Kong: Dim Sum Bonds Boom
Hong Kong’s offshore yuan bond market is set for a record year, with issuers raising $46.2B and total issuance on track to surpass 1.6T yuan.
According to Bloomberg data, corporate issuers have already raised a record $46.2 billion this year. Deutsche Bank estimates annual dim sum bond issuance tripled between 2022 and 2024, hitting 1.4 trillion yuan (about $196.5 billion) in 2024.
Chinese tech giants, such as Baidu, are also issuing debt, with Baidu issuing 4.4 billion yuan of such bonds after a 10 billion yuan sale in March. Firms like Tencent Holdings and Meituan are reportedly considering issuing debt as well.
Dim sum bonds are yuan-denominated debt issued outside mainland China.
Author's summary: Hong Kong's dim sum bond market is booming with record issuances.
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