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Asia credit roars into new year as wall of debt looms
A busy start to the year for Asia’s debt markets reflects global cash pouring into the region and companies in a hurry to lock in funding before a record pile of dues must be repaid.
There was $22.8 billion raised in credit in the first week of January, a record for first full trading week of the year in Asia.
The amount was slightly more than the $22.5 billion raised last year, Refinitiv data shows.
A record $283.3 billion in existing debt is due to mature over 2021.
U.S. markets have also been busy, however Asia’s bankers say the rush of 37 deals this year has had phones running hot as issuers want to raise money ahead of time and as investors with extra allocation to the region’s debt have cash to put to work.