Emerging-Market Bond Sales Surge Over $900 Billion on Asia Deals

Emerging-market bond sales are headed for an unprecedented year after the busiest nine months on record as borrowers seek to issue debt before U.S. interest rates start to rise.

Governments and companies in developing nations raised $942 billion in the first three quarters in overseas and local markets, up 11 percent from the year earlier, data compiled by Bloomberg show. While sanctions over the Ukraine crisis brought Russian issuance to a halt, Asian sales jumped by a fifth, led by China. Ghana sold its longest-maturity Eurobond, while Hong Kong and South Africa lured Muslim investors with debut sukuk.