Xtrakter says 2008 total fixed income new issuance was valued at USD3.4trn, representing a 15.2 per cent (USD453bn) rise on 2007 figures.
Xtrakter says 2008 total fixed income new issuance was valued at USD3.4trn, representing a 15.2 per cent (USD453bn) rise on 2007 figures.
During 2008 asset backed new issuance accounted for 25.7 per cent (USD883bn) of all issues and the size of the international capital market rose by 10.7 per cent (USD1.2 trn) to a total of USD12.7trn.
Kevin Milne, chief executive of Xtrakter, says: ‘2008 was an extremely turbulent time for the markets and, unsurprisingly, issuance figures fluctuated significantly over each quarter. New issuance continues to play a vital role in how both companies and governments raise finance. A final surge in quarter four issuance with regards to pound sterling, mirrored a requirement by a number of leading UK institutions to raise badly needed finance at the end of the year.’
The Euro was again the preferred currency in 2008 capturing 48.9 per cent (USD1.7trn). US Dollar was selected for 28.8 per cent (USD989.8bn) and Pounds Sterling was chosen for 14.2 per cent (USD490.1bn) of total fixed income new issuance.
The international capital markets increased in total value to USD12.7trn in terms of outstanding debt (excluding private and domestic issuance). This reflected a 10.7 per cent (USD1.2trn) increase over 2007 figures.
When analysing quarter four 2008 figures against quarter four 2007, fixed income new issuance rose by 28.4 per cent (USD188bn) to USD852bn and asset backed new issuance rose by 190 per cent (USD232bn) to USD354bn, representing 41.5 per cent of all issues for the quarter.
In quarter four 2008 Pounds Sterling (USD195bn) rose above the US Dollar (USD187bn) as the second most preferred currency of issue.
