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APAC Chart of the Week: APAC (ex-Japan), Western Europe HY-bond-issuance volumes surge QoQ in 3Q20; NA lags

APAC Chart of the Week: 14th October 2020

The volume of USD and EUR high-yield-bond issuance fell by a modest 9.3% QoQ in 3Q20 across North America, Western Europe and Asia Pacific (ex-Japan), with a decline in North America mostly offset by a rebound in the other two regions.

Total issuance by principal amount from the three regions was USD 166.89bn-equivalent across 273 deals in 3Q20, down from USD 183.97bn-equivalent via 275 transactions in the previous quarter. On a YoY basis, 3Q20 volumes surged 49.8% from the USD 111.41bn-equivalent printed across 221 deals in 3Q19.

New issuances in North America fell 22.8% QoQ to USD 116.5bn in 3Q20 from USD 150.9bn in 2Q20. APAC (ex-Japan) volumes almost doubled to USD 24.64bn from a lackluster 2Q20 when just USD 12.54bn was recorded, and Western Europe posted a 25.4% growth to USD 25.74bn from USD 20.52bn in 2Q20.

For the first nine months of 2020, total issuance from the three regions was USD 478.80bn on 772 deals, a 38.9% increase by value from the USD 344.64bn printed in 9M19 on 682 deals. North America accounted for 69.8% of the total by value, followed by Western Europe with 15.4% and APAC (ex-Japan) with the remaining 14.8%.

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Jason Huang-Jones APAC Data Manager Debtwire
Jason Huang-Jones APAC Data Manager Debtwire

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