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Coronavirus

Corporate fundraising dries up as investors flee in fear

Bond offerings tumble 30% in Asia in stark contrast to last year

Companies are giving up on raising funds as investors abandon markets amid turmoil triggered by the coronavirus.

TOKYO/SHANGHAI/HONG KONG -- Corporate fundraising has come to a screeching halt in a sharp reversal from last year's brisk debt and stock sales as the new coronavirus wreaks havoc on business and sends investors fleeing to safe assets.

Global corporate bond issuances in January and February fell 6% on the year to $364 billion as of Thursday, according to Dealogic. This is in stark contrast to 2019, when a favorable fundraising environment pushed up offerings to a record $2.5 trillion.  

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