Financial stimulus and sustained investor appetite for yield have seen US CLO issuance scale record heights  

Large double-digit gains in US loan issuance meant leveraged finance markets ended 2021 with a bang and set the stage for robust activity in 2022  

Interest in high-growth industries such as TMT and financial services resulted in a string of deals—from both local and international bidders.  

Islamic finance providers have been slow to make the transition away from LIBOR, as the replacement benchmark rates pose challenges in the context of Sharia compliance

Issuers are tapping institutional loan markets for add-on debt at a rapid pace as private equity firms turn to buy-and-build strategies to lower entry multiples and accelerate deployment  

Governments around the world are tightening their scrutiny of foreign direct investments  

The UK Pensions Regulator is gaining stronger powers, which will have a significant impact on companies undertaking activities such as M&A, secured borrowing, and restructuring. Following best practice and thinking ahead have become more important than ever.

Following a year of healthy activity, M&A deals in the pipeline are set to sustain leveraged finance issuance in the pharmaceutical, medical and biotech sector in the months ahead.

Against a backdrop of record commodity prices and the pressure for miners to boost their ESG credentials, the sector is seeking to position itself as a trusted partner in fighting climate change.

US M&A had an extraordinary year in 2021, with total deal value reaching US$2.6 trillion—surpassing US$2 trillion for the first time

European leveraged finance markets rebounded in the past 12 months, driven  by enthusiastic refinancing activity and a resurgent M&A marketplace, setting the  stage for a healthy year ahead

Five factors that will shape dealmaking over the coming 12 months

In the second half of 2021, Delaware courts issued several decisions affecting M&A dealmaking

With data privacy laws tightening and cyberattacks on the rise, due diligence of technology networks and data processes should be a top priority for dealmakers

Borrower-friendly terms over the past few years have helped boost M&A totals—and a number of factors suggest the financing will not change dramatically in 2022

Dealmakers should be braced for a more aggressive stance under Chair Gary Gensler

The Federal Trade Commission is taking an increasingly stringent approach to antitrust investigations

Increased sector scope and concerns around a more aggressive approach to identifying non-notified transactions is leading to rising numbers of filings

After dropping in 2020, real estate M&A ramped up significantly in 2021

Despite the absence of megadeals, M&A in the sector climbed from 2020 levels thanks in part to strong PE and SPAC activity

The pervasiveness of technology, particularly since the pandemic, continues to drive deals to all-time highs

Dealmaking may continue to rise, as price volatility abates and companies embrace energy transition

In what was a stand-out year, M&A picked up the pace in almost every sector