Yield-hungry investors spark Asian bond frenzy

Sumitomo Mitsui, DBS and China Huarong collectively raise close to $6 billion overnight as investors continue to scramble for yield, defying summer lull expectations.

Yield-hungry investors spark Asian bond frenzy

Almost $6 billion was raised on Wednesday by two of Asia’s biggest banks and a Chinese asset management firm, as global investors hungry for yield gobbled up their bonds.

Sumitomo Mitsui Banking Corp SMBC sold a $3 billion multi-tranche offering, the first Japanese financial institution to sell a dollar-denominated note also known as a yankee bond greater than $500 million in just over two months.

The 144AReg S-registered offering comprising a...

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