ICMA publishes a sixth edition of The Asian International Bond Markets: Issuance Trends and Dynamics
31 March 2026 The International Capital Market Association (ICMA), with support from the Hong Kong Monetary Authority (HKMA), is pleased to announce the publication of the sixth edition of its report, The Asian International Bond Markets: Issuance Trends and Dynamics.
The report provides a data-driven overview of how Asian issuers are accessing international bond markets, examining issuance trends by jurisdiction, currency, tenor, debut issuance and sustainable bonds. This latest edition is based on the full-year 2025 dataset and offers a detailed picture of the forces shaping Asia’s international funding landscape.
Key findings
- Latest issuance trends: Asian international bond issuance rose to USD527 billion in 2025, up 14% year on year, continuing the recovery from the 2022 to 2023 trough.
- Jurisdictional highlights: Japan and China remained the region’s largest markets covering over half of the region’s total issuance, while ASEAN jurisdictions’ combined issuance volume grew by one-third year-on-year.
- Currency and tenor: The US dollar remained the principal currency of issuance, representing two-thirds of the region’s issuance. Tenor-wise, 1-5 year maturities remained the core of supply, with growing preference for longer-dated funding.
- Sustainable bonds: Issuance in Asia totalled USD94 billion, maintaining a share of roughly one fifth of the region’s overall international bond issuance.
Download the report now for an in-depth look into the trends shaping Asia’s bond markets in 2026.
