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The International Capital Market Association (ICMA) today 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 over US$ 937 billion. This figure shows a 9% 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% by value of the total issuance being Euro denominated. US$ denominated issuance accounted for 28% of the first quarter total. There was a significant increase in the value of issuance in the Turkish Lira which accounted for almost US$ 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.
Total market size in terms of outstanding international bonds, stands at US$ 10,978 billion (almost US$ 11trillion) as at March 31, 2007. For more information see the ICMA website www.icmagroup.org
International Capital Market Association (ICMA)
The International Capital Market Association is the self-regulatory organisation and trade association representing constituents and practitioners in the international capital market worldwide. ICMA's members are located in 48 countries across the globe, including all the world's main financial centres, and currently number some 400 firms in total. ICMA performs a central role in the market by providing and enforcing a self-regulatory code of industry-driven rules and recommendations which regulate issuance, trading and settlement in international fixed income and related instruments. ICMA liaises closely with regulatory and governmental authorities, both at the national and supranational level, to ensure that financial regulation promotes the efficiency and cost effectiveness of the capital market. www.icmagroup.org
