TOKYO -- Emerging markets, chiefly in China, are on the hook for about $1 trillion worth of bond redemptions per year from 2018 through 2020 as heavy post-financial-crisis borrowing catches up with debtors, and climbing U.S. interest rates will make refinancing expensive.
In the next three years, $3.23 trillion worth of bonds in emerging markets will mature, according to Dealogic, with corporate bonds comprising about 90% and sovereign debts around 10%. The total will hit a record $891.9 billion this year and grow to $1.1 trillion in 2019 and $1.2 trillion in 2020. The roughly $1 trillion annual rate is nearly double the tally from three years ago.
