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

Following major reforms, the French Foreign Investments Control regime is now reaching cruising speed

Member States are introducing or expanding investment screening regimes, and the European Commission is now playing an active role

New rules require transactions involving Swedish security-sensitive activities or assets to undergo a security screening

Deals are generally not blocked in Finland

The Investment Screening Act requires a careful assessment of investments involving Danish entities

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

Expanded jurisdiction, mandatory filings and a substantially increased pursuit of non-notified transactions have changed the landscape 

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

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

Deal volume has reached new highs as dealmaking confidence in the region returns  

Intense competition to deliver on-demand content accelerates dealmaking in the sector

Investors eager to maintain high levels of capital deployment have kept terms and pricing highly flexible for bond and loan issuers, but that does not mean easy access for borrowers—lenders are still pushing back against credits that fall short of the quality bar

Reopening economies have transformed the credit landscape with ratings upgrades rising sharply through the year, after 2020 recorded the highest number of downgrades in more than two decades.

European Leveraged Finance Client Alert Series: December 2021

Traditionally a powerhouse of European M&A, the DACH region—D for Germany, A for Austria and CH for Switzerland—did not disappoint in the first three quarters of the year.

The rise in sustainability-linked debt issuance observed in 2021 has shown little sign of slowing down as borrowers continue to focus on improving ESG performance in response to investor demand.

In a rapidly maturing SPAC market, sponsors are more frequently turning to debt financing tools to fund deals

Recovering oil prices brought much needed stability to the balance sheets of oil and gas borrowers that were on the brink of foreclosure through lockdowns, but the transition away from hydrocarbons poses an ongoing challenge for issuers.