India Leads First Asia Junk Dollar Bond Sales Rise in Five Years

Asia’s high-yield dollar bond sales this year have grown annually for the first time in five years, fueled by Indian financial companies’ rush to access offshore investors.

Regional sales of such corporate notes, outside of Japan, touched $5.6 billion so far this year, already surpassing $4.4 billion in all of 2023, according to Bloomberg-compiled data. Indian borrowers have topped the share of sales so far this year, with nearly 41% share.

The annual declines prior to this year’s hike started in 2020 and aligned with four years of China’s property crisis that sent several builders — major contributors to Asia’s ...