Recent Insights

Steel factory
Insight
The green edge of steel: Cutting through carbon
Steel is essential to every aspect of modern life, yet its future finds itself centre stage in the climate change debate. Can advances in green steel technologies, fuelled by innovative investments from miners and steel producers, become an age-defining development in the energy transition?
Fast forward for US offshore wind
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Fast forward for US offshore wind
Changing regulatory, project finance and transmission dynamics are fueling rapid growth in US offshore wind
Liquid debt markets hit the brakes on restructurings
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Liquid debt markets hit the brakes on restructurings
A strong market for refinancing and low interest rates have enabled most borrowers in Europe and the US to avoid bankruptcy and restructuring procedures
Data Center
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Pandemic powers European infrastructure M&A
Soaring demand for digital infrastructure, transportation and social assets has generated landmark deals so far this year
Connect cars
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SPACS drive automotive sector dealmaking uphill
Automotive and automotive-adjacent M&A sees fourth consecutive quarterly rise in value, supported by strong SPAC interest in electric vehicles
Insight
French M&A displays optimism
A number of big-ticket deals in high-growth sectors such as telecommunications and renewables signal a bright future for French dealmaking
medicine blue pills
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Healthcare leveraged finance issuance climbs
Leveraged finance activity in the healthcare sector made strong gains through Q1 2021 as the pandemic response saw the industry attract steady investor inflows and M&A interest
Cylinder
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Why small modular reactors will shape the future of nuclear debate
SMRs are gaining the attention of governments and power providers across the world because of the optionality they offer. But the champions of the SMR will have to work hard to ensure its potential can be fully unlocked.
building windows
Insight
Pandemic fuels real estate and hospitality turnaround M&A activity
The number of distressed and liquidation-related M&A deals, especially in the US and UK, has increased year on year as businesses struggle to adapt to their post-pandemic reality.
coral reef
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Amplifying the "S" in ESG: Investor Myth Buster
SPACs on track to drive M&A leveraged loan issuance
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Pandemic downturn highlights management fee credit facility benefits for PE firms
Management fee credit facilities have become increasingly popular among private equity firms during the pandemic as a tool to manage cash flow volatility
LED lights
Insight
Refinancings and resets dominate European CLO space
Tightening liability spreads and the backlog from 2020 have seen European collateralized loan obligations resetting and refinancing at historic levels in 2021
circuit board
Insight
China and private equity fuel Asia's tech dealmaking in Q1
Emerging technologies attract increasing interest from dealmakers, buoyed by strong economic fundamentals and healthy macroeconomics
stormy seas
Insight
Global merger control: Navigating stormy seas
There have been a number of developments in merger control in 2020 and Q1 2021. Some are related to the repercussions of the COVID-19 pandemic, while others are borne out of the ambitions and changes sought by individual competition authorities or unexpected jurisprudence
Music Board
Insight
Streaming royalties are music to private equity's ears
Dependable recurring income from digital music rights is attracting major investment from PE funds.
Miami
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Lenders eager to finance US buyouts, but supply of new deals tightens
High yield bond and syndicated loan lenders are eager to fund US buyout deals, but competition from private debt markets and high secondary buyout volumes have restricted supply
Pharmaceutical
Insight
Healthcare M&A delivers promising first quarter
Dealmaking within the PMB sector enjoyed an impressive start as companies across the globe embarked on their post-pandemic recovery.  
factory
Insight
Industrials, chemicals and materials issuers take advantage of borrower-friendly backdrop
High yield bond and leveraged loan issuance by European industrials, chemicals and materials companies sustained steady activity levels in Q1 2021 as they took advantage of a borrower-friendly market to raise financing
plant
Insight
2021 International Arbitration Survey: Adapting arbitration to a changing world
grey stairs
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Repricing on the rise
Borrowers are taking advantage of buoyant leveraged loan markets in the US and Europe to reprice existing credits at lower interest rates, and lenders are happy to oblige
railway
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Transportation M&A posts new record in Q1
The first quarter of 2021 saw a string of big-ticket deals in the transportation sector, pushing quarterly deal value to a record high
stock market display
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Abundant liquidity drives leveraged loan issuance
Highly competitive and liquid markets saw leveraged loan issuance in the US and Europe surge, while activity in Asia-Pacific dipped despite high-profile jumbo deals
buildings
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High yield bond issuance climbs in borrower-friendly market
Borrowers in the United States, Europe and Asia are tapping buoyant bond markets to extend maturities and refinance existing debt at cheaper rates
city image
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PE real estate deals bounce back in Q1
Signs of a rebound follow last year's pullback in private equity real estate deals
Lincoln Memorial
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Assessing prospects for change under the Biden administration
Consider three factors: likelihood of legislation; complexity of regulatory action; and timeline for infrastructure development
Offshore Winds
Insight
Offshore wind fuels European M&A wave
A string of deals took place in the first quarter as energy firms look to capitalize on offshore wind's potential  
Electric Towers
Insight
Electrification, hedging risk spur utilities M&A
More than any other factor, the energy transition motivates utilities deals worldwide
bank notes
Insight
COVID-19 and the state of the European NPL market
Early in 2020, as the pandemic took hold, the European NPL market went into lockdown along with the rest of the economy—but as the market opened up in the second half of the year, NPL sellers jumped back in, setting the stage for a busier 2021.
macroshot of a plant
Insight
Grass roots and green shoots
European non-performing loan trends in a post-COVID-19 world
Stock Market
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Megadeals drive global M&A to 10-year high in Q1 2021
Global M&A value more than doubled YOY to the highest first quarter total on record
buildings
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Global PE deal value jumps to highest quarterly total since 2007
In Q1 2021, private equity activity reached its highest quarterly value in more than a decade
africa-focus-spring-2021-africa-focus-cover-card.jpg
Insight
Africa Focus: Spring 2021
Navigating a changing business landscape in Africa and beyond
infrastructure at night
Insight
Asia-Pacific oil & gas infrastructure: New opportunities for the nontraditional investor
Without being part of the full hydrocarbon value chain, pension and super funds are now claiming stakes in the Asia-Pacific oil & gas market, bringing into play nontraditional sources of funding for processing infrastructure assets in the region.
building
Insight
President Biden and leveraged finance: Short-term stability, long-term change?
Many leveraged finance dealmakers welcomed the certainty and stability President Biden's election brought to capital markets but attention will now turn to what the new administration means for the markets in the long-term
metal wall
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Clearing the debt maturity wall
COVID-19 disruption has had little impact on borrowers' ability to refinance debt and extend loan maturities
Singapore city
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Sovereign wealth fund M&A volume surge in 2020
SWFs acquired more deals in 2020 as they hunted for stable returns in volatile times
circuit board
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Sponsor and lender demand are back
Jennifer Kloud and Mitchell Kinastowski from BMO Sponsor Finance speak with White & Case partner Jacob Schtevie about BMO’s approach to funding technology credits, the importance of financial sponsor relationships in the mid-market and the growing popularity of recurring revenue financings
Insight
US SPACs look beyond their backyard to Europe
Although most SPAC activity is concentrated in the US, the boom in listings spells opportunities for European firms
Hong Kong city
Insight
Private equity in APAC ready to rebound
After a challenging 2020, APAC private equity dealmakers are forging ahead with deals, and financing markets are well-positioned to support the revival
bridges
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Asia-Pacific Infrastructure 2021: Strong foundations in a changing world
Although the world has been in the grip of a pandemic, our survey shows that the Asia-Pacific infrastructure market is set for considerable growth in the next few years with technology and ESG considerations at the heart of that expansion