The first half of 2026 was a solid one for Euronext's debt listing franchise. March brought a bout of market volatility linked to the Middle East conflict, but issuers did not stay on the sidelines for long. By the second quarter, activity was back in full swing, driven by strong investor demand, healthy bank supply, steady sovereign issuance and active corporate borrowing. H1 2026 is now running ahead of last year, with revenues climbing again quarter-on-quarter.
Banks kept issuing at a pace comparable to the exceptional levels of recent quarters. The CLO market held up well too, with investor appetite still strong. Sovereign, supranational and agency issuers, meanwhile, had already done much of their heavy lifting earlier in the year, as is typical, and stayed engaged throughout the half.
Spotlight on key issuances in H1 2026
The half was punctuated by a run of landmark and inaugural deals across Euronext's markets, including:
- Rabobank's dual-tranche €28 billion covered bond issuance (€14 billion 4-year and €14 billion 6-year) in Amsterdam
- Brightstar Lottery's $750 million senior secured bond in Dublin
- Crédit Mutuel Arkéa's inaugural €750 million covered bond in Paris
- EdgeConneX Data Centers Europe's inaugural €707 million Class A note in Dublin
- Hera Group's inaugural €500 million European Green Bond in Milan
- Acea's €500 million Blue Bond (the first from an Italian company) in Milan
- Banka Kombëtare Tregtare's inaugural €150 million senior note, marking Albania's debut on the international bond market, in Dublin
- Campari's first-ever bond issuance under its new EMTN programme, a €600 million seven-year senior unsecured note, in Milan
Sustained global leadership and building for the future
Euronext remains the world's largest venue for bond listings. The standout story this half was in the realm of sustainable finance, where Euronext once again ranked first globally for new ESG bond listings, a position it has held onto as the world's leading venue for sustainable debt. Since 2021, close to half of all money raised through ESG bonds in Europe has come through Euronext markets.
That leadership is also being cultivated for the future, guided by two priorities under the 'Innovate for Growth 2027' strategy: growing the international issuer base, with a particular focus on Central and Eastern Europe, and simplifying the listing process across markets so Euronext remains an attractive home for smaller issuers, including SMEs.
Market trends and outlook for H2 2026
Growth is expected to continue into the second half, building on two record-breaking years, with a diversified issuer base and healthy demand across bank, corporate and sovereign issuance giving the business a strong foundation to build upon. The broader backdrop, including geopolitical developments and the interest rate environment, is worth watching, but Euronext's markets are well placed to navigate it.
Banks are expected to keep issuing at a healthy clip, and the ABS market should stay resilient on the back of strong refinancing needs. Corporate issuance is set to hold up well after a strong start to the year, while sovereign and supranational issuers are expected to keep funding at an elevated pace through the rest of the year.
Want to learn more?
Visit our bond listing webpage and get in touch with the Euronext team.