Debut borrowers

China Resources Cement and BOC Aviation close debut bonds

China Resources Cement and BOC Aviation raise $400 million and $500 million, respectively, adding to the record level of debut bond issuance.
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A Boeing 737, one of the most popular planes leased by BOC Aviation
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<div style="text-align: left;"> A Boeing 737, one of the most popular planes leased by BOC Aviation </div>

Two Asian borrowers China Resources Cement and BOC Aviation closed debut dollar bonds on Thursday night, raising a combined $900 million. Without a doubt, this has been a standout year for debut bond issuance.

So far this year, 23 borrowers from Asia ex-Japan have raised $14.4 billion through debut dollar bonds, according to Dealogic. This is a steep rise from the six issuers that raised $2.5 billion in 2011 and the two issuers that raised $1.5 billion in 2010.

“For many companies, the 2008 crisis was a wakeup call,” said one banker. “Many of them saw banks pulling lines and realised that they could...

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