Global Borrowers Increase Euro Debt Issuance

Global borrowers issued a record amount of euro-denominated debt in 2025, raising over $2.2 trillion so far, Dealogic data showed, a rise of over 19% from 2024. The increase, driven by a roughly 9% drop in the U.S. dollar and lower borrowing costs for emerging-market issuers, marks the third consecutive rise, though euro issuance remains less than half of 2025 dollar debt.
Key Points
- 1Record euro issuance exceeds $2.2 trillion in 2025, up over 19% year-on-year.
- 2Investors diversify from the U.S. dollar amid a roughly 9% dollar decline.
- 3Practitioners should monitor funding-cost shifts and currency risk for cross-border debt strategies.
Scoring Rationale
Strong Dealogic and bank data support a notable market shift, but the story is finance-focused, not a technology breakthrough.
Sources
Public references used for this report.
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