One of the largest economic and financial markets in ASEAN+3, Korea now has a strong corporate bond market. Some of the critical factors contributing to its strength are the set of effective policy changes and robust participation of the domestic players. Korea’s corporate bond market is largely domestic, led by the investments of the financial sector. In the same way, financial sector companies dominate the issuance of corporate bonds in the country. Moving forward, Korea aims to build and strengthen its sustainable bond market.

This research report shows the unique characteristics of the ASEAN+3 corporate bond market, particularly on the trends in corporate bond issuances and investor groups. This shows the overall developmental stages of each corporate bond market in the region, as well as several updates on the changes in the relevant regulations for corporate bonds. In addition, this research touches on the thematic bonds in ASEAN+3.

Hong Kong, China is a renowned financial market in ASEAN+3. This research aims to show two sides of the corporate bond market of Hong Kong, China. First, this shows the specific on the characteristics of the local currency corporate bond market of Hong Kong, China. Second, this research highlights the position of Hong Kong, China for cross border bonds in ASEAN+3. Similar with the other countries in the region, Hong Kong, China is keen on welcoming sustainable bonds in its corporate bond market.

Manila, 11 December 2025 – The Credit Guarantee and Investment Facility, a trust fund of the Asian Development Bank (“CGIF”) is pleased to announce its support for the Sustainability-Linked Bonds (“SLB”) of PT Pollux Hotels Group Tbk (“PHG”) totaling IDR 500 billion (~USD 30.3 million). Listed on the Indonesia Stock Exchange today, the SLB was successfully issued on 10 December 2025 in two tranches: (a) 3-year tenor of IDR 55 billion (~USD 3.3 million) at 5.85% p.a. and (b) 5-year tenor of IDR 445 billion (~USD 27.0 million) at 6.25% p.a.

Manila, 24 November 2025 – The Credit Guarantee and Investment Facility, a trust fund of the Asian Development Bank (“CGIF”) has guaranteed ALSREIT Capital Sdn Bhd ’s five-year MYR455.0 million 3.95 per cent senior Sukuk Wakalah (“Guaranteed Sukuk Wakalah”). The issuer is the financing vehicle of Al-Salām Real Estate Investment Trust (“ALSREIT”).

The Credit Guarantee and Investment Facility, a trust fund of the Asian Development Bank (“CGIF”) has guaranteed CMC Corporation’s (“CMC”) debut bond issuance, a ten-year, VND 1,250 billion (equivalent to USD 47.5 million) fixed-rate amortizing bond (“Bond”).