Covid-19 may have sent nations around the world into lockdown, but its effect on corporate bond issuance has been the very opposite of intimidating. In the eight weeks from mid-March, as lockdowns spread, volumes in the euro market leapt to more than triple those in the same period in 2019.
Citi’s debt capital markets (DCM) Europe, Middle East and Africa (EMEA) team has played a leading role in the upsurge. “Our clients’ needs for funding rose significantly as they looked to bolster liquidity and protect their businesses from further macro deterioration,” notes William Weaver, Citi’s head of DCM EMEA. “During this period, the corporate team has been incredibly active while working from home.”
