Chinese real estate lenders lift APAC high yield bond issuance after an active Q3

COVID-19 split the retail financing market—players of scale with online capabilities thrived, while retailers reliant on brick-and-mortar stores for the bulk of their earnings came under increasing financial pressure

Global retail M&A value increased year on year, as appetite for supermarket and convenience store assets resulted in big-ticket deals

The oil and gas sector has been one of the hardest hit by COVID-19 lockdowns and there has been little relief as restructurings rise across the industry

Dividend recapitalization activity plunged in the immediate aftermath of COVID-19 but, as markets recovered, investor appetite for recap deals swelled

After taking a deep dive in Q2, US leveraged loan issuance picked up in Q3, while European markets gained year on year

A guide to navigating the rules for investing in countries that require foreign direct investment approval

Deal activity fell dramatically in 2020, but Q3 shows signs of recovery

China has moved to strengthen its review of foreign direct investments in 2020

In response to the COVID-19 emergency, the screening powers of the Italian government were significantly expanded

The Federal Ministry for Economic Affairs and Energy continues to tighten FDI control, but the investment climate remains liberal in principle

In a regime undergoing rapid change, investment screening is currently "light," with red tape increasing for European inbound investment

In 2020, Japan tightened foreign direct investment review but also introduced a prior notification exemption scheme

Australia requires a wide variety of investments by foreign businesses to be reviewed and approved before completion

Government approval is required for all foreign investments from countries sharing a land border with India

With a new piece of primary legislation, the UK government is expected to make more far-reaching changes to its powers of scrutiny over investments that may pose a risk to national security

New measures enacted for the purpose of protecting the Spanish economy amid the COVID-19 crisis may persist longer than expected

The French Foreign Investments Control regime has recently been reinforced following a reform of 2019, and other measures have been adopted in view of the COVID-19 pandemic

Deals are generally not blocked in Finland, and are reviewed mostly when in the defense and dual-use sectors

Increased awareness of safety concerns related to foreign direct investments has prompted a ramp-up toward the implementation of a general FDI screening regulation

Foreign direct investments, whether undertaken directly or indirectly, are generally allowed without restrictions or the need to obtain prior authorization from an administrative agency

Since COVID-19, deals involving foreign state-owned enterprises or enterprises related to public health or the supply of critical goods and services are increasingly subject to review

Most deals are approved, but new rules covering more types of transactions and requiring mandatory filings in certain cases have changed the landscape