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ICMA publishes report on the Asia-Pacific cross-border corporate bond secondary market
30 August 2018 ICMA has published a report on the state and evolution of the Asia-Pacific cross border corporate bond secondary market. While the report is primarily focused on G3 (USD, EUR, GBP) denominated bonds of non-financial and financial corporate issuers, as defined by having the issuer country of risk within the APAC region, it also explores the ongoing internationalisation of local currency markets, in particular the Chinese market.

The report highlights the rapid rise in issuance and the size of the G3 (in particular USD) corporate bond market since 2011, which has accelerated in the past two years driven primarily by Chinese financial and non-financial issuers coming to the market. From 2011 to 2017, annual G3 APAC corporate issuance has more than trebled to over USD 930bn, with Chinese names accounting for more than 40% of total issuance in 2017, compared with less than 20% in 2011. The report sets the size of the market at May 2018 at approximately 8,500 outstanding issues with a nominal value of almost USD 2.5 trillion.

View the press release.
Download the paper.

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