Asia Dollar-Bond Sales Hit Record as Issuers Lock in Cash

(Bloomberg) -- Dollar bond issuance in Asia -- excluding Japan -- hit a third-quarter record of more than $79 billion as Chinese companies led a spree of note sales amid a drop in borrowing costs. The approach of China’s “Golden Week” holiday helped spur sales past the previous record, though issuance should be muted over the next few days. Investor demand in the final quarter of the year is likely to be “vigorous” as much of the world’s bond markets are in negative territory, and better-rated Asian dollar notes offer higher yields than U.S. peers, according to Todd Schubert, head of fixed-income research at Bank of Singapore Ltd.

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