Global Issuers Flock to Yuan Bonds at Record Pace

International borrowers are issuing yuan-denominated debt at a record pace this year, seizing on lower borrowing costs as Chinese bond yields trend downward.

Panda bond issuance — yuan debt sold on the Chinese mainland by overseas institutions — reached 153 billion yuan ($22.6 billion) in the year through June 18, exceeding 80% of last year’s total, according to data provider Dealing Matrix.