Asian dollar bonds ebb to lowest since 2008

Amid concerns over rising rates and a liquidity crunch in China, some 15 deals have been put on hold or shelved, according to bankers.

Asia’s dollar bond market has gone from feast to famine. After hitting record year-to-date levels, new issue volumes have slumped to the lowest level since 2008 this month thanks to turmoil in the global financial markets.

According to Dealogic, Asia ex-Japan borrowers have raised a total of $429 million so far this month. This is the lowest amount raised in a single month since October 2008 a month after Lehman filed for bankruptcy. A combination...

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