Domestic companies rush to raise dollar-denominated debt

Corporate bond issuers are expected to borrow a record amount overseas this year amid tightened liquidity at home, reports Gao Changxin in Shanghai

Chinese companies are on an unprecedented overseas borrowing drive this year as domestic funding costs edge up, analysts said.

Led by banks and property developers, domestic issuers had sold as much as $20 billion worth of dollar-denominated debt as of May 6, according to calculations by the newspaper National Business News.