Fitch: Bonds Cement Role as Funding Source for European Corporates

November 5, 2015 11:32 AM

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(The following statement was released by the rating agency) Link to Fitch Ratings' Report: European Corporate Funding Tracker - Bonds Cement Role as Base Load Funding For Large Corporates here LONDON, November 05 (Fitch) Bonds accounted for almost 40% of total new debt taken up by European companies in the first six months of 2015 but the economic importance of debt capital markets to large corporates is twice as high, says Fitch Ratings in its latest European Corporate Funding Tracker report.

Bond issuance as a share of total new corporate funding nudged up to 39% from 37% in 2014 and is significantly above the 30% annual average for 1999-2013. This extends the trend of funding disintermediation that has become more firmly established in the region, and which mirrors the US model of corp...

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