Kangaroo, Panda, Dim Sum: Foreign Bond Sales Hit Records Across Asia

Foreign debtors are flooding into Asia-Pacific bond markets. So-called Kangaroo, panda, and dim sum bond gross sales all hit information in 2026.

Kangaroo bonds, offered in Australian {dollars} by international debtors, reached about 42 billion US {dollars} this yr. That is a 40% soar from 2025, per LSEG information cited by Reuters.

Hong Kong and Yuan Bond Debuts Hit Records

Hong Kong greenback bond issuance has additionally hit a report high in 2026. Commerzbank, Engie, and Singapore Airlines offered Australian greenback or yuan bonds for the primary time this yr, Reuters reported.

Chinese onshore panda bonds and offshore dim sum bonds additionally hit information within the first half of 2026. Panda bond gross sales reached about 160 billion yuan, or 24 billion US {dollars}. Dim sum gross sales hit 350 billion yuan.

Both figures mark features of greater than 60% from a yr earlier, based on Goldman Sachs information cited by Reuters. International debtors accounted for about half of that quantity.

“We’ve reached a tipping level the place these markets have tipped over into being considerably extra significant each to native names and inevitably to worldwide names.”

Carla Goudge, head of debt syndicate for Asia-Pacific at HSBC, informed Reuters.

Yen Bonds and the AI Borrowing Boom

Yen bond gross sales by international debtors have additionally doubled this yr. Alphabet’s report bond sale drove a lot of the rise, although yen issuance is at a seven-year high even with out it.

Global bond gross sales topped 4 trillion US {dollars} by late July, up from about 3.5 trillion {dollars} a yr earlier. Rising synthetic intelligence (AI) infrastructure spending and authorities deficits are straining main bond markets.

Big Tech’s heavy AI spending has already squeezed hyperscaler free cash flow. That provides strain on the identical bond markets these companies rely upon.

The pattern additionally displays Beijing’s push to internationalize the yuan. It follows a stretch of sharp swings in Asian equities, together with the Kospi and Nikkei sell-off earlier this yr.

German carmakers and European monetary establishments have been particularly energetic panda bond issuers. That’s based on Clifford Lee, international head of funding banking at Singapore’s DBS.

More Governments Eye the Panda Bond Market

Portugal became the primary eurozone authorities to promote a dim sum bond in April. The sale raised nearly 2 billion yuan, or 300 million US {dollars}.

Portugal later swapped the proceeds again to euros at a small financial savings, Rui Amaral of the debt company mentioned.

Brazil plans to promote its first-ever panda bond later this yr, Reuters reported. Kenya can also be weighing a debut out there.

The publish Kangaroo, Panda, Dim Sum: Foreign Bond Sales Hit Records Across Asia appeared first on BeInCrypto.