BRIGHT Food Group Co is considering selling US dollar-denominated bonds ahead of an October deadline to repay financing for its acquisition of Weetabix Ltd.

Bright Food, which is based in Shanghai and has operations from sugar to dairy and wine, plans to meet investors in Asia and Europe from today, said a person familiar with the matter, who asked not to be identified because the details are private. The firm is due to repay a US$300 million loan in October, part of US$850 million borrowed last year to buy 60 percent of British cereal maker Weetabix, data compiled by Bloomberg News show. Korea National Oil Corp and Yuexiu Real Estate Investment Trust are also marketing five-year debt in US dollar, separate people said.

Chinese and Hong Kong issuers sold US$18.8 billion of dollar bonds to refinance debt this year, more than six times similar issuance for the same period of 2012, the data show. CNOOC Ltd, China's largest offshore energy firm, raised US$4 billion last week to refinance part of a US$6 billion short-term bank loan used to acquire Canada's Nexen Inc, data compiled by Bloomberg News show.

"An offshore bond gives companies the opportunity to seek alternative financing sources, longer tenors and a potentially wider investor base," said Raymond Chia, the Singapore-based deputy head of credit research for Asia fixed-income at Schroder Investment Management Ltd. "So long as the interest rate environment remains accommodative, we'll continue to see companies come to the bond market."

Bright Food is set to meet investors in Hong Kong today, in Singapore tomorrow and in London on Friday, the person familiar with the matter said.

It also signed a US$550 million term loan to fund its takeover of Weetabix.