EM Sovereign Issuance Tracker

The tracker covers bonds that emerging market central and regional governments sell in international markets in US dollars and euros. Bonds sold in local markets, bonds of state owned companies, supranational borrowers and short term notes are left out.

Samurai bonds in yen, Swiss franc bonds and yuan bonds (offshore dim sum and onshore panda) are listed in the deal table and the cuts, converted at the Federal Reserve H.10 rate on the pricing day, but sit outside the dollar and euro totals, the euro share and the charts. Hong Kong dollar tranches count as local currency and are left out.

Each bond of the current year is recorded from a public document: the issuer’s release or regulatory filing, a market or listing notice, or a news report that quotes the issuer. Taps, reopenings of bonds already outstanding, count only their new amount.

Euro amounts are converted to dollars at the Federal Reserve H.10 rate on the pricing day, or the ECB reference rate when H.10 has not yet posted. Treasury yields are the Federal Reserve H.15 10 year constant maturity series.

Ratings are the issuers’ long term foreign currency ratings from S&P, Moody’s and Fitch, classed by the middle of the three, or the lower of two. Market prices are the latest quotes on Borsa Italiana or German exchanges.

Figures for 2025 and earlier come from historical issuance records.

Updated twice a month, on the 2nd and the 17th.

This tracker is available for viewing on this website. No open-data license or permission to redistribute the compiled dataset is granted. Third-party source material remains subject to its respective rights and terms.

Contact Jonathan Fortun about reuse ↗