While Asia’s dollar bond market is off to a flying start in 2012, dim sum deals have so far been thin on the ground. According to Dealogic data, the total dim sum issuance year-to-date is equivalent to $1.1 billion, slightly up on the $801 million at this time last year but still a far cry from the $16.9 billion seen in the dollar market this year, which is nearly double last year.
Yields in the dim sum market have risen this year and most of the companies that have tapped the market during the past two weeks are those that actually need renminbi to grow their business in China or...
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