Bank of China Hong Kong raises $1.6 billion in week of record issuance

Asian stocks suffered heavily across the board on Thursday and Friday last week due to concerns that the ongoing sovereign debt problems in Europe could upset the global economic recovery and conditions in the debt markets were volatile throughout the week. In spite of this, Asian issuers managed to price nine deals last week, raising a record $5.4 billion.

Early in the week, Industrial Bank of Korea tapped the market for $350 million and Rizal Commercial Banking Corp raised $250 million. They were followed over the next few days by another seven deals as issuers tried to use the current market window before central banks in the region consider raising...