The Asian dollar bond market is about to get even more crowded this year. With tighter credit conditions in China, competition among issuers to attract offshore investors will never have been so fierce.
The wall of issuance, estimated by debt bankers to be around $200 billion, will be amplified by Chinese regulators' clamping down on the use of leverage onshore.
The smorgasboard of offshore bonds adding to last year's record issuance levels will range from first-time local-government financing vehicles LGFVs to high-yield property developers, say debt financiers and investors. At least 60 companies have received regulatory approvals to...
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