China’s Midea Group aims to raise $2.2 billion through bond issuances to enhance offshore liquidity amid tightening credit conditions.
Midea Group, one of China’s largest appliance manufacturers, is preparing to sell $2.2 billion in offshore bonds. The move aims to bolster liquidity as global credit markets face tighter conditions and rising borrowing costs.
The company last tapped international bond markets in early 2023, raising $1.5 billion at an average yield of 4.2%. Analysts note that offshore funding has become more expensive for Chinese corporates due to elevated U.S. Treasury yields and cautious investor sentiment.
No immediate market reaction was reported following the announcement.