September 29, 2021

A time of reckoning for Asia’s offshore bond market participants as Evergrande debt woes linger on

By ellen

SINGAPORE – Investors and banks who have been piling into Asia’s fast growing offshore debt market face a painful reckoning as there seems to be no end in sight to the debt woes of the Evergrande Group – China’s second-largest property developer.

Lured by high yields and assuming that Beijing would bail out insolvent borrowers to avoid spooking financial markets, a broadening base of global investors had entered the mainly US dollar-denominated Asian bond market, which has seen a fivefold increase in issuance in the past 15 years.

Please subscribe or log in to continue reading the full article.

Get unlimited access to all stories at $0.99/month
  • Latest headlines and exclusive stories
  • In-depth analyses and award-winning multimedia content
  • Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months*
Subscribe now

*Terms and conditions apply.