SF Holding Plans First Dim Sum Bond Issue of Up to RMB10 Billion

SF Holding, a Chinese express delivery company, plans to issue offshore RMB bonds for the first time, raising up to RMB10 billion. The company has mandated banks to arrange three-year and/or five-year notes, with the actual issuance subject to market conditions. SF Holding thus joins the ranks of issuers tapping the dim sum bond market for financing.

Since the start of 2026, dim sum bond issuance by sovereign and corporate borrowers has totaled RMB863 billion, up 35% year on year and the highest on record for the same period. Lower offshore RMB financing costs and the Chinese government's expansion of channels for domestic funds to invest in offshore bonds have drawn more issuers into the dim sum bond market. Recent issuers include Huazhu Group, which issued dim sum bonds for the first time, raising RMB3.35 billion.