Dictionary

Debt Capital Markets

Debt Capital Markets

From the Collaborative Bond and Money Market Data Portal. 

Debt Capital Markets comprise the trading of all negotiable debt instruments that promise to pay the holder or registered owner a principal amount plus interest payments at some point in the future.

As permitted by applicable security laws, this instrument entitling the holder to a future set of cash flows can be bought and sold to anyone.

It is the free negotiability that distinguishes a debt instrument from bilateral loans, where the entitlement of future cash flows cannot be transferred without permission of the issuer.

In other words, debt instruments are highly tradable and loans are not. On this basis, loans are not a part of DCM, although instruments with limited negotiability, such as Schuldschein loans, are included.

DCM consists of a diverse range of instruments across a broad spectrum of distinguishing features, including the type of issuer, the currency at issuance, which investors the security can be sold to, and whether or not the principal and interest payments are linked to another asset class.

Based on available data, on the 28th October 2020, the size of global debt capital markets was approximately USD138tn.

For information on issues in Debt Capital Markets, please use the Instrument search tool.

For information on the current size of Debt Capital Markets, please use the data sheet tool.

For information on the composition of Debt Capital Markets, please use the issuer search tool.

For information on active dealers in Debt Capital Markets, please use the dealer search tool.

For information on active investors in the Debt Capital Markets, please use the fund search tool.