US dollar bond issuance hits a record high
THE TOTAL value of global debt market deals reached $3.21 trillion (£2 trillion) in the first half of this year, up two per cent on the same period a year earlier, according to Dealogic.
The increased use of debt markets, seen in a 19 per cent jump in the volume of corporate issued bonds year-on-year, comes at a time when firms have sought refuge from troubled equity markets.
US dollar issuance increased in all world regions in the first half of 2011, with the total value of Yankee bonds issued hitting a record $432.5bn.
Meanwhile, the value of loans used for refinancing purposes hit a record $879bn in the first half of 2011, up a huge 57 per cent on a year earlier.
Loans used for refinancing purposes accounted for 50 per cent of global loan volume, as firms look to restructure their balance sheets in the wake of the financial crisis.
The combined value of syndicated loans worldwide was $1.74 trillion.