Data presented on corporate bonds are based on OECD calculations using data obtained from LSEG that provides international deal‑level data on new publicly and privately issued corporate bonds that are underwritten by an investment bank. The database provides a detailed set of information for each corporate bond issue, including the identity, nationality and sector of the issuer; the type, interest rate structure, maturity date and rating category of the bond; and the amount of and use of proceeds obtained from the issue.
Convertible bonds, deals that were registered but not consummated, preferred shares, sukuk bonds, bonds with an original maturity less than or equal to 1 year or an issue size less than USD 1 million are excluded from the dataset. The industry classification is carried out based on LSEG Business and Industry Classifications. The country breakdown is carried out based on the issuer’s country of domicile. Yearly issuance amounts initially collected in USD were adjusted by 2022 US Consumer Price Index (CPI). Information provided is adjusted by CPI and presented in 2022 USD.
Given that a significant portion of bonds are issued on foreign markets, it is not possible to assign such issues to a single market. For this reason, the country breakdown is carried out based on the jurisdiction of domicile of the issuer.
The OECD definition of a “growth company” is a small and medium-sized enterprise (SME) with the potential to rapidly expand, create jobs, increase productivity, push the frontiers of innovation and challenge the status quo with new products and business models. In this report, corporate bonds issued by growth companies refers to issuances of less than USD 50 million.
Australia participated in the survey without being an Asian jurisdiction. Data referring to Asia as a region, for simplicity, includes Australia, and the following 18 Asian jurisdictions: Bangladesh, Cambodia, China, Hong Kong (China), India, Indonesia, Japan, Korea, Lao PDR, Malaysia, Mongolia, Pakistan, Philippines, Singapore, Sri Lanka, Chinese Taipei, Thailand and Viet Nam.