The International Capital Market Association (ICMA) has released figures on new international bond market issues for the first quarter of 2007, showing that the total value of new issuance in this period was more than $937 billion. That figure shows a 9 percent increase in the value of new issuance over the first quarter of 2006.
The Euro was again the dominant currency for new issues in the first quarter with 54 percent by value of the total issuance being Euro denominated.
US Dollar-denominated issuance accounted for 28 percent of the first quarter total. There was a significant increase in the value of issuance in the Turkish Lira, which accounted for almost $3.5 billion, double the value of issuance in first quarter 2006.
A chart showing the breakdown of new issuance by currency is available from ICMA’s website at www.icmagroup.org. The figures include internationally issued debt with a life greater than one year; domestic debt is excluded.