Growing non-core SSA issuance approaches record high

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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