Citi sees APAC convertible/ exchangeable bond issuance hitting record high

Further brisk issuance in H2 2025 will push volumes to highest on record, the bank said.

Citi expects convertible/ exchangeable bond issuance from Asia Pacific to hit a new record high in 2025, the bank said.

Year-to-date, nearly $21b have been raised from 108 issues, according to Dealogic data.

Citi said that volumes are expected to hit the highest annually on record, with further brisk issuance expected in the second half of 2025.

“Pipelines across the market are strong and long with a range of issuers looking to access the market. Our advice to potential issuers is to make necessary preparations early, to gain flexibility on accessing an optimal execution window,” said Rob Chan, head of Asia equity capital markets syndicate.