Growing non-core SSA issuance approaches record high

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By Frank Jackman
29 Jun 2020

With SSA issuers' programmes rising to accommodate their responses to the coronavirus pandemic, the volume of deals transacted in niche currencies is closing in on a record high. With offshore interest in local currency deals healthy, however, many major banks are missing out on a busy and increasingly active market.

Much of the issuance boom inspired by the Covid-19 pandemic takes place in dollars, euros and sterling. However, some $216.8bn of non-core currency paper has been sold — the highest year-to-date since 2012, when $230bn was dealt by this time.

Sovereign issuers in particular are being forced to ...

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