May CUSIP Issuance Trends Signal Continued Growth in International Debt Issuance

CUSIP Global Services Report Shows International Debt Identifier Requests Increased by 142 Percent over 2009 Figures; US Corporate Issuance and International Equity Issuance Showing Signs of Slowdown

Jun 09, 2010, 09:00 ET from CUSIP Global Services

NEW YORK, June 9 /PRNewswire/ -- CUSIP Global Services (CGS) today announced the release of its CUSIP Issuance Trends Report for May 2010.  The report, which tracks the issuance of new security identifiers on a sector-by-sector, asset class-by-asset class and regional basis, offers an early indicator of nascent market trends and developing hot spots of capital creation.  

According to the report, new international debt issuance increased 142.3 percent year-over-year with 129 identifiers issued this May.  Elsewhere in the capital markets, requests for new CUSIP identifiers has begun to decline on a month-over-month basis, though year-over-year totals are still in positive territory.  US Corporate securities issuance declined 1.3 percent on a month-to-month basis.  Year-over-year, US Corporate securities issuance was up 39.5 percent.  US Municipal bond identifier requests were also up in May.  International Equity issuance was up 24.3 percent year-over-year.

"We're seeing mixed signals in the CUSIP issuance data this month," said Richard Peterson, Director, S&P Valuation and Risk Strategies.  "While issuance is up across the board on a year-over-year basis and we continue to see major growth in International Debt, we have also seen the first back-to-back monthly declines in US Corporate identifier requests since December 2008.  We will continue to monitor these trends  into June to gain some insight on future capital markets activity."

Following is a breakdown of new CUSIP identifier issuance by asset class year-to-date through May 2010:

Asset Class

2010 ytd

2009 ytd

YOY Change

Int'l Debt

579

239

142.3%

US Corporates

7496

5383

39.3%

Int'l Equity(1)

1418

1141

24.3%

Private Placement

827

735

12.5%

Long Term Note

237

222

6.8%

Municipals

5806

5706

1.8%

Short Term Note

531

525

1.1%

CDs > 1 yr Maturity

3952

5223

-24.3%

CDs < 1 yr Maturity

1386

3774

-63.3%


(1) "International" Equity & Debt refers to market requests for CUSIP International Numbers ("CINS") for non-U.S. offerings



The CUSIP Global Services trends report is issued to the marketplace on a monthly basis.   For more information, please visit www.cusip.com.  

About CUSIP Global Services

For 40 years CUSIP Global Services has provided a unique common language for identifying financial instruments across institutions, exchanges and nations, enabling financial services firms to benefit from improved operating efficiencies and substantially reduced administrative costs. CUSIP Global Services is operated by the CUSIP Service Bureau (CSB). CSB is managed on behalf of the American Bankers Association by Standard & Poor's. For more information, visit www.cusip.com.

About The American Bankers Association

The American Bankers Association represents banks of all sizes and charters and is the voice for the nation's $13 trillion banking industry and its 2 million employees.  Learn more at www.aba.com.

SOURCE CUSIP Global Services



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