off-the-wire

Euro debt sales plunge in aftermath of banking rout

Kitco Media
By Reuters
Published:
Updated:
Reuters
March 17 (Reuters) - Euro debt sales plunged to just 3.3 billion euros ($3.51 billion) this week, Refinitiv data showed on Friday, in another sign of financial market stress resulting from banking turmoil on both sides of the Atlantic.


Borrowers raised just 3.3 billion euros this week from syndicated debt sales, according to the Refinitiv data compiled for Reuters, which excludes pre-planned government bond auctions.


That was the lowest weekly amount all year, Refinitiv's data showed, and a tiny fraction of the 59.5 billion euros raised last week.


In contrast, $144 billion was raised in U.S. dollar-denominated deals this week, Refinitiv said, with the lion's share coming from an $89 billion debt sale by the U.S. Federal Home Loan Bank, a key lender to U.S. regional banks, to support member banks' liquidity needs. ($1 = 0.9403 euros) (Reporting by Yoruk Bahceli; editing by Chiara Elisei)

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