The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Capital Markets

Top quality issuers boost debt capital markets

The key challenge for both corporates and financial issuers will be the $650 billion in bonds falling due this year, up from $560 billion in 2008.

The Future of Capital

Forget the broken banking system

Even governments face supply constraints


In early December 2008, Société Générale compiled wide-ranging forecasts for euro-denominated debt capital markets issuance in 2009. Even while recognizing that extreme nervousness might close the markets down at various points this year, and basing its central estimate on markets being open for just nine months out of 12, the bank still expects €1.5 trillion of debt issuance, almost a return to the 2007 volume of €1.602 trillion and an increase of 35% on the €1.18 trillion of new debt sold in the first 11 months of 2008.

Even if markets are shut for half of 2009, the bank still expects a 15% increase in volumes over the 2008 figure for the year to the start of December.

The lion’s share of this increase will come from sovereigns, supranationals and agencies as governments seek to fund financial system bailouts and economic stimulus as revenues slump. The bank also expects government-guaranteed bank debt, a new sector that came into being only in the last quarter of 2008, to become a €300 billion market in 2009.


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree