User friendly: Refinancing and M&A-driven financings on the rise
The use of proceeds for refinancing and the repayment of debt at USD 2.74trn YTD has already exceeded 2019 pre-pandemic figures, while M&A-related borrowing is up almost 73% from the whole of 2020 and around USD 100bn shy of 2018 – the highest figure in the past five years. This year has witnessed record levels of M&A, as risk appetite returned to executives and companies expended capital made available by cheap debt and frothy equity markets. Indeed, 2022 could see a wave of new-money issuance if M&A market conditions remain favorable.
More topics covered in the report:
- Global Overview: Leveraged loans enjoy banner 2021
- Stars in stripe: North America remains kings of leverage
- Settling up: 2022 looks big year for debt repayments
- Flower Power: Green and sustainable loans continue to bloom
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