DBRS Morningstar – French bond issuance to ease in 2021, but private debt momentum and focus on ESG will support 2022 volumes
LONDON, October 18, 2021– (COMMERCIAL THREAD) – DBRS Morningstar posted a comment titled “French bond issuance to be eased in 2021, but private debt momentum and focus on ESG will support 2022 volumes.” The volumes of public bond issues in France in 2021 are unlikely to reach the record levels of 2020; however, private debt issuance and environmental, social and governance (ESG) bonds will continue to grow and become a more important part of the French debt capital market landscape.
Highlights of the summary include:
2021 bond issuance will slow, but 2022 volumes should benefit from favorable economic winds.
Private placements and Schuldschein loans offer alternatives to public procurement and help to diversify access to capital.
ESG bonds will gain traction, but remain confined to government and public sector issuers, while ESG disclosure facilitates market access.
“While volumes of French government bond issuance in 2021 are expected to moderate from 2020 as companies rushed to secure liquidity last year at the height of the pandemic, the economic recovery will support volumes. emissions next year, “said Amaury Baudouin, vice-president of European companies. . “At the same time, issuers and lenders are increasingly seeing private debt as a way to diversify as ESG considerations play an increasing role in investment decisions.”
The DBRS Morningstar group of companies consists of DBRS, Inc. (Delaware, USA) (NRSRO, a subsidiary of DRO); DBRS Limited (Ontario, Canada) (DRO, subsidiary of NRSRO); DBRS Ratings GmbH (Frankfurt, Germany) (EU CRA, subsidiary NRSRO, subsidiary DRO); and DBRS Ratings Limited (England and Wales) (UK CRA, NRSRO subsidiary, DRO subsidiary). For more information on regulatory registrations, recognitions and approvals of the DBRS Morningstar group of companies, please see: https://www.dbrsmorningstar.com/research/225752/highlights.pdf. The DBRS Morningstar group of companies is a wholly owned subsidiary of Morningstar, Inc. Â© 2021 DBRS Morningstar. All rights reserved. Information on which DBRS Morningstar ratings and other types of opinions and credit reports are based is obtained by DBRS Morningstar from sources that DBRS Morningstar believes to be reliable. DBRS Morningstar does not audit the information it receives as part of the analytical process, and it does not and cannot independently verify this information in each case. The extent of any factual investigation or independent verification depends on the facts and circumstances. DBRS Morningstar Ratings, other types of credit advisories, reports and other information provided by DBRS Morningstar are provided “as is” and without representations or warranties of any kind. DBRS Morningstar hereby disclaims any representation or warranty, express or implied, as to the accuracy, currency, completeness, merchantability, fitness for a particular purpose, or non-violation of this information. DBRS Morningstar or its directors, officers, employees, independent contractors, agents and representatives (collectively, representatives of DBRS Morningstar) will not be liable in any way (1) for any inaccuracy, delay, loss of data, interruption of service, error or omission or for any damage resulting therefrom, or (2) for any direct, indirect, incidental, special, compensatory or consequential damage resulting from any use of the ratings and rating reports or resulting from any error (negligence or otherwise) or any other circumstance or eventuality within or beyond the control of DBRS Morningstar or any representative of DBRS Morningstar, in connection with or in connection with the obtaining, collection, compilation, analysis, interpretation, communication, the publication or delivery of such information. No DBRS Morningstar entity is an investment advisor. DBRS Morningstar does not provide any investment advice, financial or otherwise. Ratings, other types of credit opinions, other analysis and research issued or published by DBRS Morningstar are and should be construed only as statements of opinion and not statements of fact regarding creditworthiness, investment, advice. financial or other or purchase recommendations. , sell or hold securities. A report on a DBRS Morningstar Rating or other credit opinion is neither a prospectus nor a substitute for the information gathered, verified and presented to investors by the issuer and its agents in connection with the sale of the securities. DBRS Morningstar may receive compensation for its ratings and other credit opinions from, among others, issuers, insurers, guarantors and / or underwriters of debt securities. DBRS Morningstar is not responsible for the content or operation of any third party websites accessible by hypertext or other computer links and DBRS Morningstar assumes no responsibility to any person or entity for the use of such third party websites. This publication may not be reproduced, retransmitted, or distributed in any form without the prior written consent of DBRS Morningstar. ALL DBRS MORNINGSTAR RATINGS AND OTHER TYPES OF CREDIT ADVICE ARE SUBJECT TO DISCLAIMERS AND CERTAIN LIMITATIONS. PLEASE READ THESE DISCLAIMERS AND LIMITATIONS ON https://www.dbrsmorningstar.com/about/disclaimer. ADDITIONAL INFORMATION REGARDING DBRS MORNINGSTAR RATINGS AND OTHER TYPES OF CREDIT ADVICE, INCLUDING DEFINITIONS, POLICIES AND METHODS, IS AVAILABLE AT https://www.dbrsmorningstar.com.
The English version of this press release is authoritative.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20211018005439/en/