Recent Insights

Dealmaking within the PMB sector enjoyed an impressive start as companies across the globe embarked on their post-pandemic recovery.  

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

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

The first quarter of 2021 saw a string of big-ticket deals in the transportation sector, pushing quarterly deal value to a record high

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

Borrowers in the United States, Europe and Asia are tapping buoyant bond markets to extend maturities and refinance existing debt at cheaper rates

Signs of a rebound follow last year's pullback in private equity real estate deals

Consider three factors: likelihood of legislation; complexity of regulatory action; and timeline for infrastructure development

A string of deals took place in the first quarter as energy firms look to capitalize on offshore wind's potential  

More than any other factor, the energy transition motivates utilities deals worldwide

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.

European non-performing loan trends in a post-COVID-19 world

Global M&A value more than doubled YOY to the highest first quarter total on record

In Q1 2021, private equity activity reached its highest quarterly value in more than a decade

Navigating a changing business landscape in Africa and beyond

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.

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

COVID-19 disruption has had little impact on borrowers' ability to refinance debt and extend loan maturities

SWFs acquired more deals in 2020 as they hunted for stable returns in volatile times

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

Although most SPAC activity is concentrated in the US, the boom in listings spells opportunities for European firms

After a challenging 2020, APAC private equity dealmakers are forging ahead with deals, and financing markets are well-positioned to support the revival

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

When COVID-19 closed the IPO window at the start of last year, expectations were bleak. But the market fought back and 2020 ended on a high.

The European leveraged finance market remains resilient following a year of unprecedented hardship, as lenders dissect credits to determine the best possible deals, from business fundamentals to pricing and documentary terms

An active fourth quarter and strong economic fundamentals signal a busy year ahead for South Korean dealmaking

As the dust begins to settle, shareholder activists are making a comeback

Opportunities in uncertain times  

Despite encouraging signs that economies could reopen as COVID-19 vaccinations are rolled out, additional waves of infections and extended travel restrictions weigh heavily on the leisure and hospitality industry

Commercial chapter 11 filings in the US increased significantly in 2020, but government stimulus measures and widespread availability of fresh capital resulted in fewer corporate restructurings than many anticipated—that could change in the next 12 months

Businesses must be prepared for legal challenges to their activities and proactively take steps to limit their exposure to climate change-related claims

Record SPAC issuance is expected to boost M&A activity, supporting additional leveraged finance issuance, while financial sponsors take advantage of the opportunity to exit existing investments.

COVID-19 disruption and tension between the US and China saw loan and high yield bond issuance decline across Asia-Pacific in 2020, and borrowers and lenders remain cautious

Dealmaking is gradually making a comeback in the sector, both as a means to rebuild hard-hit companies and to meet growing consumer demand

General partner-led fund restructurings accounted for the majority of private equity secondaries volume in 2020 as managers sought liquidity in a flat exit market

In 2020, after a volatile first half, US leveraged finance markets experienced a strong second half and are well-positioned for 2021.

In addition to regulating how CO2 is stored and transported, governments increasingly provide incentives to accelerate adoption of carbon capture and storage

US deal activity held up remarkably well in the face of unprecedented uncertainty in 2020, with total deal value in H2 surpassing the previous year

We highlight the key European M&A trends in the second half of 2020, and provide our insights into the outlook for M&A moving forward.