Dollar Bond Demand in Asia Hits the Lowest Level Since 2019
- Subscription ratio for notes was 3.8 times deal size in July
- China junk dollar bond yields surged on Evergrande concerns
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Investor appetite for dollar bonds in Asia slumped to the lowest level in nearly two years last month, as China’s regulatory crackdowns and the financial woes of China Evergrande Group reverberated across the region.
Orders for dollar notes sold by issuers in Asia excluding Japan were an average 3.8 times the amount of debt issued in July, and 4 times for Chinese borrowers, according to Bloomberg-compiled data of available deal statistics. The figures were respectively 5.2 and 7.3 in June.