Dim Sum Bonds Witness Record Monthly Volume in January 2014

Offshore Chinese Yuan-denominated bonds, popularly known as Dim Sum bonds, totaled RMB$34.1 billion (US$5.6 billion) from 54 new issues during the month of January 2014, the highest-ever monthly level both in terms of proceeds and number of issuance, according to data from Thomson Reuters.


Offshore Chinese Yuan-denominated bond volume could potentially rise further as 2014 witness the highest-ever proceeds and number of Dim sum bonds to mature this year.


At least RMB196.8 billion (US$31.3 billion) worth in proceeds from 442 Dim sum bond offerings will mature for 2014 – including the RMB18.7 billion (US$3.0 billion) from 38 issues that are due this month of January.


Aside from Hong Kong and China issuers, this month saw more foreign issuers tapping the Dim Sum bonds market as proceeds grew 112% to RMB7.3 billion (US$1.2 billion) compared to RMB3.5 billion (US$555.9 million) during the same period last year.



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