The cross-border debt capital market continues to bring together borrowers and investors from all over the world and meets the funding needs of countries, supranational organisations, financial institutions and companies.
ICMA has under various names, the Association of International Bond Dealers, the International Primary Market Association and the International Securities Market Association, been at the centre of this market almost from its beginning.
| History of the Eurobond Market | |
| 1963 | First Fixed rate issue: Autostrade |
| 1969 | Launch of Association of International Bond Dealers (AIBD) |
| 1969 | Launch of Euromoney |
| 1969 | Euro-clear established (forerunner of Euroclear) |
| 1970 | Cedel established (forerunner of Clearstream) |
| 1970 | First Floating Rate Note: ENEL |
| 1979 | First bought deal: GMAC |
| 1981 | First swap: IBM/IBRD |
| 1989 | Fixed price reoffer introduced |
| 1989 | First global bond: World Bank |
| 1992 | Association of International Bond Dealers (AIBD) changes name to International Securities Market Association (ISMA) |
| 1994 | First CDS: Exxon/EBRD |
| 1999 | Pot deal introduced |
| 1999 | Euro introduced in 12 countries forming the Eurozone |
| 2005 | International Securities Market Association (ISMA) and International Primary Market Assocation (IPMA) merge to form International Capital Market Association (ICMA) |
| 2007 | Global credit crisis starts |
| 2008 | Lehman’s default |
| 2010 | European sovereign debt crisis starts |
| 2013 | 50th Anniversary of the Eurobond Market |
