SSAs brace for fierce funding competition

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By Burhan Khadbai
03 Dec 2020

Competition among public sector borrowers will be more ferocious than ever when 2021 begins, due to supersized borrowing programmes created to deal with the coronavirus pandemic, the European Union’s arrival as a big issuer and a lack of decent funding windows in January, writes Burhan Khadbai.

This year has seen an unprecedented amount of supply from SSA borrowers. There has been €765bn of issuance in euros and $503bn in dollars year-to-date, compared to €418bn and $357bn over the same period in 2019, according to data from Dealogic. But SSA bankers and analysts expect similar ...

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