European bond issuance has reached a record-breaking €1.705 trillion ($1.8 trillion) this year, passing the high-water mark previously set in 2020.
Helene Durand, Ronan Martin, and 'Tofe AyeniAll eyes are on the Chinese bond market after the regime's recent stimulus came as a disappointment, strategist Jeff Weniger explains.
Sovereigns, supranationals and agencies as well as financials have been at the forefront of the borrowing spree. The need to finance ever-growing debt piles has spurred issuance from public sector borrowers, with the UK being a case in point. “The massive volumes of issuance in the bond market have been absorbed very easily this year,” said Paula Weisshuber, head of corporate debt capital markets for Europe, Middle East and Africa at Bank of America. “Spreads are at attractive levels and issuers have already been front-loading for 2025.”
On Tuesday, Sweden’s Heimstaden Bostad AB sold the first fresh junior debt offering from a property company since late 2021. Last week, Austria’s Raiffeisen Bank International AG raised new capital to replace an Additional Tier 1 bond more than six months after an earlier deal failed.
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