Asia-Pacific Bond Sales Soar to Record Highs in 2026

Foreign borrowers flooded into Asia-Pacific bond markets in 2026, driving sales to record highs. According to LSEG data cited by Reuters, Kangaroo bonds sold in Australian dollars reached about $42 billion this year, a 40% jump from 2025. Hong Kong dollar bond issuance also hit a record high, with Commerzbank, Engie, and Singapore Airlines selling their first yuan or Australian dollar-denominated bonds.

Chinese onshore panda bonds and offshore dim sum bonds also reached records in the first half of 2026, with panda bond sales reaching about 160 billion yuan ($24 billion) and dim sum sales hitting 350 billion yuan. Both figures mark gains of more than 60% from a year earlier, according to Goldman Sachs data.

Carla Goudge, head of debt syndicate for Asia-Pacific at HSBC, noted that the markets have 'tipped over into being significantly more meaningful' to both local and international borrowers. Yen bond sales by foreign borrowers also doubled this year, driven in part by Alphabet's record bond sale.

The trend reflects Beijing's push to internationalize the yuan, as well as rising artificial intelligence spending and government deficits straining major bond markets. German carmakers and European financial institutions have been active panda bond issuers, while Portugal became the first eurozone government to sell a dim sum bond in April. Brazil and Kenya are also eyeing debut entries into the market.