MTN volumes fall as FIG issuance dries up

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By Frank Jackman
22 Dec 2020

The MTN market has had a tough year, as central bank support programmes and rampant public market issuance ate away at the volume done in private markets. Most notable was the 42% decline in bank issuance, which made up the majority of the year’s fall in MTN volume.

“The first half of the year was incredibly volatile with many issuers absent from the market,” said one head of MTNs at a bank in London.

“Those borrowers that needed to raise funds paid a healthy new issue premium to do so in the public market as ...

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