Debt Capital Markets update Q2 2019

We are pleased to share LSEG’s Quarterly Debt Capital Markets (DCM) update for Q2 2019.

Download the update - Q2

This provides a review of global DCM activity, and key highlights from London Stock Exchange Group’s markets.

Highlights:

  • Global Macro dynamics continue to follow the trends set in Q1. DCM issuance globally in H1 2019 is down 14% from last year, in an increasingly dovish rates environment
  • london stock exchange is leading exchange for first-time issuances and debut products: global issuers picked a London listing for milestone deals, e.g. AIIB’s inaugural global bond, TD Bank’s first Sonia-linked bond, and Kerala Infrastructure Fund’s (KIIFB’s) debut – the first sub-sovereign from India to issue a masala bond
  • Key transactions: In Q2 2019, we saw a number of key inaugural green and sustainability transactions including landmark issuances from Hong Kong and Chile – the first green sovereign bonds from Greater China and the Americas respectively
  • Case studies: Chile became the first issuer to list its bonds on the International Securities Market (ISM) as an Exempt OECD sovereign
  • An update on the International Securities Market (ISM): ISM continues to build momentum with £4bn raised this quarter. A new promotion allows for issuers to move or dual-list existing securities suitable exchanges to ISM
  • An overview of Prospectus Directive III which will come into effect on 21 July 2019 – you can find our regulatory update on Prospectus Directive III here
  • Events Calendar and Thought Leadership: A list of key conferences and LSEG events globally in Q3 and Q4, and recent presentations from LSEG to the Working Group on Risk-Free Rates in the UK on Sonia-term rates, as well as FTSE Russell’s launch of the world’s first climate risk sovereign bond index: FTSE Climate Risk-Adjusted WGBI

More recent

Going direct: a Wise decision

Not every listing on the public markets has the aim of raising fresh capital. For fast-growing international technology company Wise, its Direct Listing on the Main Market of London Stock Exchange provides a way to broaden its ownership while remaining focused on its mission. Co-founder and CEO Kristo Käärmann explains their novel thinking and approach.

Learn more
Growth in tech, sustainable finance and diverse boards define London’s first half.

The depth and level of support provided by London’s markets to the rapidly evolving capital needs of issuers and investors in the global economy was vividly underlined in a strong and active first half of 2021.

Learn more
Trustpilot: Denmark’s tech unicorn puts its trust in London

Founded in Denmark in 2007, Trustpilot has developed into a global review platform with a mission to create a universal symbol of trust. Joining the premium segment of London’s Main Market, with its high standards of regulation and corporate governance, was an obvious choice for the first Danish tech unicorn to list in London.

Learn more
Global exposure, best execution: why London is at the centre of global securities trading

Robert Barnes
Group Head of Securities Trading & CEO Turquoise Global Holdings

 

The world trades in London

In the time zone that is central to the global business day, London’s role in global finance has always been pivotal. And at London’s heart is London Stock Exchange, which for centuries has provided choice and liquidity for investors and traders

Learn more