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Mar 28, 2013, 11.23 PM IST | Source: PTI

Emerging mkt issuers raise $301.4bn via debt secs: Dealogic

Emerging market economies, including India, have raised USD 301.4 billion through debt securities so far this year, registering a marginal rise of four per cent from the year-ago period.

Emerging market (EM) economies, including India, have raised USD 301.4 billion through debt securities so far this year, registering a marginal rise of four per cent from the year-ago period.

According to global dealtracking firm Dealogic, emerging market DCM (debt capital market) volume has reached a record USD 301.4 billion in 2013 year-to-date (Y-T-D), up 4 per cent from USD 290.5 billion recorded in the corresponding period a year ago.

Also read: JPMorgan AMC to remain overweight on emerging markets

In contrast, total DCM volume from developed countries has seen a 16 per cent decline year-on-year to USD 1.38 trillion so far this year over the corresponding period a year-ago, Dealogic said.

While the emerging market DCM volume reached a highest year-to-date record, for developed markets, the DCM volume so far this year was the lowest since 2008.

Moreover, emerging market issuers also account for bigger slice of the global DCM volume. So far this year, they account for a 18 per cent of global debt issuance which stood at USD 1.68 trillion in 2013.

Last year emerging market issuers had a 15 per cent share in all global market debt issuance. "Corporate bonds lead emerging market DCM volume with a record USD 198.6 billion in 2013 Y-T-D, up 31 per cent from the same 2012 period (USD 151.8 billion)," Dealogic said.

In terms of DCM bookrunner rankings, HSBC leads the emerging market bookrunner ranking in 2013 so far this year with a 5.6 per cent market share, followed by Citi and JPMorgan with shares of 4.3 per cent and 3.8 per cent, respectively.

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