Divide asparagus spears into 12 bundles (3-4 pieces each). Wrap 1 piece of bacon around each bundle, starting 1/2" from bottom of the tips. Secure the bacon-wrapped asparagus with a toothpick. Arrange bundle in a shallow baking pan.
Combine brown sugar and remaining ingredients in a medium saucepan; heat mixture to a boil over medium heat, stirring occasionally. Pour mixture over asparagus bundles.
Bake 25 to 30 minutes or until spears have begun to wilt and bacon looks fully cooked. Enjoy!