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Laxman Pai, Opalesque Asia:

Overall global debt capital markets activity totaled US$2.5 trillion during the first quarter of 2021, flat compared to the first quarter of 2020 and the fifth consecutive quarter to surpass US$2.0 trillion in issuance, said a study.

According to Global Debt Capital Markets Review by Refinitiv, the number of new offerings brought to market during the first quarter of 2021 totaled 6,143, a 4% decline compared to the first quarter of 2020. DCM issuance during the first three months of 2021 has increased 25% compared to the fourth quarter of last year but declined 6%, by the number of issues.

Global Investment Grade corporate debt offerings totaled US$1.2 trillion during the first quarter of 2021, a 5% decrease compared to 2020 levels and the third-largest quarter for global high-grade corporate debt on record.

The US dollar marketplace, which saw record levels of issuance during 2020, totaled US$436.8 during the first quarter of 2021, a 13% decline compared to a year ago.

Global High Yield debt activity during the first quarter of 2021 reached US$205.1 billion, an increase of 83% compared to first quarter 2020 levels and the strongest three-month period for global high yield issuance on record and the first quarter to surpass US$200 billion.

High yield offerings from issuers in the United States and the United Kingdom increased by triple-digit percentage gains compared to the first quarter of 2020, while issuers from China......................

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