28Asia-Pacific Region Debt Market
Dollar volume by new-issue category
In 2019, S&P Global Ratings rated approximately 52% of the $826 billion of addressable debt issued in the Asia-Pacific market compared with 59% in 2018. Rated debt issuance by dollar volume in the region increased nearly 20% from 2018 to 2019 while the number of rated issues increased by approximately 16%.
The rated debt market is a component of the total debt market and includes only the debt securities issued with a rating. The rated Asia-Pacific debt market comprises six new-issue categories (shown below): (1) Corporates (Industrials, Infrastructure, and Financial Services), (2) Sovereigns/International Public Finance (IPF), (3) Mortgage-Backed Securities (Residential and Commercial), (4) Asset-Backed Securities, (5) Collateralized Debt Obligations, and (6) Covered Bonds.
Notes: Annual figures; dollar volume in billions; data by domicile of issuer/assets
Details may not sum to total due to rounding
Historical percentages calculated based on unrounded figures
Data as of 1/31/2020 and 2/29/2020 and subject to revision to reflect final deal information
Notes for Asia-Pacific debt issuance:
Excludes confidential and repo transactions
Includes Rule 144a (private placements), MTN takedowns, convertibles, and preferred stocks. Excludes sovereign issuers, private placements (except Rule 144a issues), retail notes, commercial paper, and all agency issues
Excludes asset-backed commercial paper and letters of credit
Includes home equity loans
Includes sovereigns