Recent Insights

Global currency
Refinancing rally lifts loan issuance as interest rates recede
Debt Explorer | Leveraged loan issuance in the US and Europe showed strong year-on-year gains over the first nine months of 2024 as lower interest rates inspired a wave of refinancing
Assorted money
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Robust refinancing activity bolsters high yield rebound
Debt Explorer | High yield bond issuance in the US and Europe has made strong gains as issuers return to the market to refinance at more attractive rates
Battery
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Cleantech in Asia-Pacific: The wave of the future
M&A Explorer | As the global race to net zero gathers pace, so does investment in the technologies and services—collectively known as cleantech—needed to support that drive
Latin America Focus: Fall 2024
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Latin America Focus 2024
Outlook for 2025: Forging a path through complex dynamics
columns of data on mobile devices
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Cybersecurity: Legal implications and risk management
In an increasingly interconnected world, cyber risk is firmly at the top of the boardroom agenda, and having an effective data breach response programme is no longer optional.
London
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European leveraged finance report: Revisiting the crystal ball
Debt Explorer | White & Case’s European leveraged finance team evaluates the predictions they made at the beginning of 2024 for leveraged loan and high yield bond activity
solar panels
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US renewables M&A: A cautious road to recovery?
M&A Explorer | The US renewables sector is racing to keep up with governmental targets and societal pressure, but the upcoming presidential election creates considerable uncertainty
Taiwan
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Taiwan’s M&A market defies headwinds to flourish in 2024
M&A Explorer | M&A totals for this year have already overtaken 2023 as technology, green energy and a financial services megadeal drive activity
Electric vehicle
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EVs at a crossroads: Where next for electric vehicle M&A?
M&A Explorer | The EV industry is facing multiple headwinds in 2024 including consumer pullback, but future dealmaking prospects look solid as buyers seek to safeguard future growth, with China leading the way
Jakarta
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Indonesian lending activity poised for rebound
Debt Explorer | Macroeconomic uncertainty has impacted Indonesian debt markets in recent years. But, after a period of disruption, prospects for domestic and offshore debt issuances are brightening
buildings
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China’s real estate sector shows the beginning signs of recovery
Debt Explorer | After a challenging three years for China's real estate sector, a government stimulus package and improving macroeconomic conditions have raised hopes that the industry has turned a corner
solar panels and turbines
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Spain’s renewable energy industry readies for refinancing
Debt Explorer | Spain's renewable energy assets are producing more power than ever. However, as energy prices flatten out, refinancing renewable energy infrastructure could prove to be tricky
Money Printing
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Return of the megadeal: Big business powers US M&A
M&A Explorer | The string of megadeals announced in the first half of 2024 reflect a growing confidence among US dealmakers. But can the bull run be sustained?
Lead unicorn sculpture on pillar of Trophy Gate
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Financial institutions M&A: Sector trends - September 2024
In the 12th edition of our report, we bring you the key deal highlights and M&A trends across UK/Europe in the past 12 months which have shaped the financial services landscape. 
Responsible business
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Businesses face an expanded range of obligations
An accelerating focus on doing business responsibly will force changes to wide-ranging aspects of business operations and strategy
Marble abstract
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What does it mean to be a responsible mining & metals player in 2024?
As the industry faces higher societal, regulatory and risk management expectations, significant opportunities await responsible businesses in the mining & metals sector.
Roadway
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Eastern promise: The M&A pipeline between APAC and the Middle East is primed for growth
M&A Explorer | Dealmaking between the two regions looks set to rise as trade links and political relations strengthen
Tokyo
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Land of the rising dissension: Japanese shareholder activism in focus
M&A Explorer | A perfect storm of volatile market conditions and investor demands is brewing in Japan, fostering an environment ripe for increased shareholder activism in 2025
Euros
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High anxiety or real opportunity? Distressed M&A in Europe
M&A Explorer | The number of distressed deals reaches record highs as challenging market conditions take their toll
Futuristic background
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Data: The hottest non-commodity in the mining & metals sector?
There is a tendency to think of data as generic, especially when it is vast, but the uniqueness of mineral data makes it the ultimate non-commodity, primed to take advantage of AI.
Article
Legal 500: Enforcement of Judgments in Civil and Commercial Matters Comparative Guide: United States
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France sets its sights on becoming Europe’s PE leader
M&A Explorer | Governmental pressure and an improving macroeconomic outlook could see French buyout activity gaining on the UK
Euro note
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NPL players rethink strategy in a changing market
Elevated interest rates have led to an increase in European NPL volumes, but levels remain far below the peaks during the financial crisis period. NPL investors and servicers are rethinking their business models to adjust to a smaller market
coral reef
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Financial Times Moral Money Forum reports, in partnership with White & Case
Papers red clip
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Sanctions move up the agenda for lenders and borrowers
Debt Explorer | Compliance with sanctions regimes has been a priority for debt markets. Amid rising geopolitical tensions, the stakes for lenders and borrowers are higher than ever
Container crane machinery in shipyard.
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Africa Focus: Summer 2024
Assorted money
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High yield issuance climbs, but markets still seek direction
Debt Explorer | High yield activity in the US, Europe and APAC revives after a tricky period, but markets remain uncertain moving into the final months of 2024
various money
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Refinancing surge reenergizes US and European loan markets
US and European leveraged loan markets record massive increases in issuance as issuers race to refinance
Tokyo
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Despite short-term volatility, rising interest rates may improve Japan’s economic outlook
Debt Explorer | Rising interest rates have challenged some markets, but in Japan, where rates have languished in negative territory for almost a decade, a rate increase is generally welcome news for investors
Aerial view of Cape Town from Signal Hill
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South Africa M&A regulation: Adapting to change
Debt Explorer | A peaceful election and slowing inflation have put M&A markets in South Africa in a more advantageous position. However, taking advantage of South African deal opportunities requires a clear understanding of a rapidly evolving regulatory backdrop
Close up view of paper money
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Moving on up: Europe’s CLO market is making a strong comeback
Debt Explorer | The first half of 2024 has been a bumper year for European Collateralized Loan Obligations and a mix of market and legislative catalysts could push the second half into record-breaking territory
Aerial view of beach
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Leaders in Water Interview Series
Aerial view of residential building
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Covered bond issuance climbs as investors seek traditional asset classes
Debt Explorer | Demand for covered bonds is rising as investors seek opportunities to deploy capital in low-risk assets during a period of market uncertainty
server room
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Private debt diversifies into infrastructure
Debt Explorer | Private debt funds are rapidly expanding into a segment of the market traditionally dominated by banks
digital wave
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“Magnificent Seven” ride again as AI spurs rise in US tech M&A
M&A Explorer | Dealmaking makes a comeback as tech giants battle for dominance in artificial intelligence
European Union flag
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High-profile deals in European regulators’ firing lines
M&A Explorer | Dealmakers are learning to navigate a stricter regulatory environment as UK and EU authorities take an increasingly interventionist stance
Folded cash
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Investors flock to investment grade debt markets
Debt Explorer | Investment grade debt markets have enjoyed buoyant activity levels as elevated interest rates see investors and lenders race to build exposure to high-quality borrowers
Agricultural farm view from above
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Food for thought: Dealmakers drawn to Europe’s sustainable farming sector
M&A Explorer | The strong environmental, economic and social case for sustainable farming looks set to spur future M&A in Europe’s agricultural sector
Solar
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PE firms increasingly target infrastructure
M&A Explorer | The addition of infrastructure to PE firms’ playbooks is part of a broader embrace of adjacent private market asset classes
Payment machine
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Africa represents new frontier for tech dealmakers
M&A Explorer | The continent's growing population is producing a wealth of investment opportunities as demand for digital services ramps up