Asian Bond Issuers Rush to Market as Iran Hopes Tighten Spreads

Asia’s dollar bond market has seen a burst of issuance as companies and governments rushed to secure cheaper funding, with credit spreads tightening to record lows on hopes tensions in the Middle East may ease.

Hong Kong’s government is marketing a dollar benchmark offering as part of a broader multi-currency sale Thursday, while HSBC Holdings Plc is pricing a two-part dollar offering in the busiest session in more than two weeks. The sales follow Westpac Banking Corp.’s $4 billion multi-tranche deal a day earlier, highlighting a strong reopening of primary markets.