The issuance activity in the Euro Corporate Bonds market has significantly increased after a phase of market volatility in April, indicating a stabilization of market conditions. In May and June 2025, record volumes of over 70 billion EUR in new bonds were issued, bringing the total volume in the first six months of the year to approximately 293 billion EUR in 504 individual bonds.
Rising Issuance Activity Continues
This strong issuance intensity continued into early July with additional new issues totaling 17 billion EUR to date. Bonds with a volume between 500 million and 1 billion EUR are particularly popular, accounting for nearly 70% of the market. Major issuers like Alphabet (6.75 billion EUR), Novo Nordisk (6 billion EUR), Robert Bosch (4 billion EUR), and Siemens (4 billion EUR) have placed significant tranches in the market during this period.
Influencing Factors and Market Dynamics
The increase in issuance activity is partly favored by reduced risk premiums and a normalization of the Euro swap rate curve, which enhances attractiveness for investors and suggests a dynamic market development in the coming months. Despite this positive development, the share of bonds with an ESG component remains relatively low at about 16%, with Green Bonds for designated use having somewhat more relevance.
In summary, the rising issuance activity in the Euro bonds market since April demonstrates improved investor confidence and more stable conditions, offering interesting opportunities for investors.