Chinese companies are issuing convertible bonds at a record rate this year, as they hunt for cheap forms of financing and a way to boost their offshore cash balances.
Ecommerce company Alibaba, which in May raised one of the largest convertible bonds on record at $5bn, and insurer Ping An, which raised $3.5bn in July, are among companies driving the rush to issue a form of debt that surged in popularity in western markets during the coronavirus pandemic.
Companies in China and Taiwan have issued $18.8bn of convertible and exchangeable bonds in 2024, surpassing the previous record of $18.7bn set in 2021, according to Citigroup data.
您已阅读13%（637字），剩余87%（4101字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。