EU enters the fray as SSA market shines brightly

The SSA market faced unprecedented challenges in 2020. Funding requirements were inflated by unexpected needs from the pandemic, and the market was busier than ever thanks, in no small part, to the EU’s entrance as one of the sector’s biggest borrowers. But with the exception of a difficult period in March, SSA issuers made it through the year with scarcely a hiccup in their programmes. It’s an encouraging sign, but new challenges await next year. Some leading lights in the SSA community discuss the year they’ve had and the changes it has brought for them, as well as for capital markets more broadly.