The new normal for European companies: €350bn of bonds, half in euros
The overall size and currency mix of European investment grade corporate bond issuance in 2013 were remarkably similar to the market of 2012, despite marked changes in interest rates and cross-currency swap rates.
Basic figures on issuance by European companies, generated by EuroWeek from Dealogic’s database, show European firms issued €339bn of investment grade bonds in all currencies in 2013, down about 11% from 2012’s total of €380bn.
But the difference is hardly material, compared with what makes 2012 and 2013
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