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DBRS Morningstar - French Bond Issuance to Ease in 2021, but Momentum in Private Debt and Focus on ESG Will Support 2022 Volumes

·4-min read

LONDON, October 18, 2021--(BUSINESS WIRE)--DBRS Morningstar published a commentary titled "French Bond Issuance to Ease in 2021, but Momentum in Private Debt and Focus on ESG Will Support 2022 Volumes". Public bond issuance volumes in France in 2021 will most likely not reach the record levels of 2020; however, private debt issuances and environmental, social, and governance (ESG) bonds will continue to grow and become a more significant part of the French debt capital market landscape.

Summary highlights include:

  • 2021 bond issuance will slow down, but 2022 volumes are expected to benefit from economic tailwinds.

  • Private placements and Schuldschein loans offer alternatives from public markets and help to diversify access to capital.

  • ESG bonds will gain strong momentum, but are still confined to government- and public-sector-related issuers while ESG disclosure helps with market access.

"While French public bond issuance volumes in 2021 are set to moderate compared to 2020 as corporates rushed to secure liquidity last year during the height of the pandemic, economic recovery will support next year’s issuance volumes," said Amaury Baudouin, Vice President of European Corporates. "In parallel, issuers and lenders are increasingly looking at private debt as a way to diversify while ESG considerations are playing an increasing role in investing decisions."

To view the full report, click here: https://www.dbrsmorningstar.com/research/385943/french-bond-issuance-to-ease-in-2021-but-momentum-in-private-debt-and-focus-on-esg-will-support-2022-volumes

The DBRS Morningstar group of companies consists of DBRS, Inc. (Delaware, U.S.)(NRSRO, DRO affiliate); DBRS Limited (Ontario, Canada)(DRO, NRSRO affiliate); DBRS Ratings GmbH (Frankfurt, Germany)(EU CRA, NRSRO affiliate, DRO affiliate); and DBRS Ratings Limited (England and Wales)(UK CRA, NRSRO affiliate, DRO affiliate). 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 are wholly-owned subsidiaries of Morningstar, Inc. © 2021 DBRS Morningstar. All Rights Reserved. The information upon which DBRS Morningstar ratings and other types of credit opinions and reports are based is obtained by DBRS Morningstar from sources DBRS Morningstar believes to be reliable. DBRS Morningstar does not audit the information it receives in connection with the analytical process, and it does not and cannot independently verify that information in every instance. The extent of any factual investigation or independent verification depends on facts and circumstances. DBRS Morningstar ratings, other types of credit opinions, reports and any other information provided by DBRS Morningstar are provided "as is" and without representation or warranty of any kind. DBRS Morningstar hereby disclaims any representation or warranty, express or implied, as to the accuracy, timeliness, completeness, merchantability, fitness for any particular purpose or non-infringement of any of such information. In no event shall DBRS Morningstar or its directors, officers, employees, independent contractors, agents and representatives (collectively, DBRS Morningstar Representatives) be liable (1) for any inaccuracy, delay, loss of data, interruption in service, error or omission or for any damages resulting therefrom, or (2) for any direct, indirect, incidental, special, compensatory or consequential damages arising from any use of ratings and rating reports or arising from any error (negligent or otherwise) or other circumstance or contingency within or outside the control of DBRS Morningstar or any DBRS Morningstar Representative, in connection with or related to obtaining, collecting, compiling, analyzing, interpreting, communicating, publishing or delivering any such information. No DBRS Morningstar entity is an investment advisor. DBRS Morningstar does not provide investment, financial or other advice. Ratings, other types of credit opinions, other analysis and research issued or published by DBRS Morningstar are, and must be construed solely as, statements of opinion and not statements of fact as to credit worthiness, investment, financial or other advice or recommendations to purchase, sell or hold any securities. A report with respect to a DBRS Morningstar rating or other credit opinion is neither a prospectus nor a substitute for the information assembled, 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 third party websites accessed through hypertext or other computer links and DBRS Morningstar shall have no liability 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 OPINIONS ARE SUBJECT TO DISCLAIMERS AND CERTAIN LIMITATIONS. PLEASE READ THESE DISCLAIMERS AND LIMITATIONS AT https://www.dbrsmorningstar.com/about/disclaimer. ADDITIONAL INFORMATION REGARDING DBRS MORNINGSTAR RATINGS AND OTHER TYPES OF CREDIT OPINIONS, INCLUDING DEFINITIONS, POLICIES AND METHODOLOGIES, ARE AVAILABLE ON https://www.dbrsmorningstar.com.

The English version of this press release prevails.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211018005439/en/

Contacts

Dennis Ferreira
European.Communications@dbrsmorningstar.com

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