Review 2024 | Outlook 2025

Review 2024 | Outlook 2025

Big themes

EU supras to play bigger part in funding bloc’s security and growth

European securitization dreams of transformation via regs reform in 2025

AI adoption soars as capital markets push to automate

The GlobalCapital survey of heads of debt capital markets

Deals of the Year

Bond Deals of the Year — Public sector borrowers: Innovation and perfect timing

Bond Deals of the Year — Financial institutions: Giving ‘em what they want

Bond Deals of the Year — Investment grade corporates: Bravery and ambition shine through

Bond Deals of the Year — Emerging markets: The best of a fine vintage

Public sector borrowers

Supply to be the name of the game for SSAs in 2025

SSAs make front-loading pay off to raise more while paying lower premia

Execution dexterity in times of uncertainty

Issuers face swap market hurdles in the year ahead

Agility and reliability in turbulence and transition

Financial institutions

Macro challenges face FIG primary market boosted by rate cuts

Credit investors plough into FIG as premia oscillate

Maturing Kangaroo market stakes ‘G4’ claim

Covered bonds to come under peer pressure in 2025

Duration and low premiums served up in faltering covered bond mart

Emerging markets

Trump spectre hangs over CEEMEA bond market

Last chance grab for yield drives down premiums

LatAm bond bankers smile again but hope 2025 wild cards are dealt in their favour

Issuers set goals of spreading risk and expanding investor base

Corporate debt

Polls apart: cash stampede protects corporate issuers from democratic disruption

Increase in corporate issuance does nothing to dent spread tightening

Loans bankers keenly await ‘a good vintage for M&A’ in 2025

Syndicated Loan, Leveraged Finance and Private Debt Award Nominations 2024

Securitization

Rejuvenated European ABS market hopes best is yet to come

Technically charged CLO market looks to push on but tail risks linger

Reinvigorated US CMBS set to carry momentum into 2025

Hot property: US RMBS adapts to shine in world of higher rates

Esoterics to the fore as US ABS finds new highs

Equity capital markets

Europe on final approach to ‘normalised’ IPO market after troubles

Swiss franc bonds

Falling rates pose threat to Swiss franc bond momentum

Sponsored content

AI and investment supercharge Capital IQ Pro

Aussie dollar FI supply will stay strong, but covered issuance in question

Covered market wishing for lower spreads in 2025

MarketAxess sees electronic trading driving EM growth

Will the hybrid boom continue into 2025?

Agility, resilience and innovation in corporate trust services

Analytics key as economic uncertainty looms in 2025