Insight

DCM Highlights: First Half 2021

Use of Proceeds for Debt Repayment Drops, While Acquisition Finance Rises Year-over-Year Fewer companies have sought to repay debt, while more have been raising money for M&A albeit still lower than pre-pandemic levels. In 1H21, USD 473bn was borrowed to repay debt, refinance and recapitalise, down 33% from the same period last year, as corporates […]

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Loans Highlights: First Half 2021

Refinancings Seize Lion’s Share of Global Proceeds Financial uncertainty caused by the global pandemic has manifest in a changing economic climate, and this, in turn, has seen a shift in the use of proceeds since last year. Refinancing volumes snared an impressive 51% of global proceeds, soaring to USD 1.39trn in 1H21 from USD 879bn […]

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Leveraged Finance Highlights: First Half 2021

Technology Drive Global Issuances by Sector Technology and healthcare leveraged finance issuers have dominated the market in both the Americas and Europe. In the Americas, the technology space raised USD 140bn, followed by USD 80bn for healthcare and USD 54bn for telecoms. In Europe, healthcare issuances led the way with USD 30bn, followed by technology […]

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Global Markets Rankings: First Half 2021

Global Markets Rankings for First Half 2021 Our quarterly rankings are now available   ECM Rankings Record half-year volume for global ECM of $818bn reached in 1H 2021 View Report   M&A Rankings Global M&A reaches highest 1H volume on record with $2.96tn View Report   DCM Rankings JPMorgan leads DCM global and US tables; […]

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Loans Highlights: First Quarter 2021

Green and ESG linked loans growing popularity Green and ESG linked loans have shown resilience and growth throughout the pandemic. In the first three months of 2021, $85.5bn of ESG facilities were arranged, up by 93.3% from Q1 2020. ESG-linked loans which are not constrained by a green use of proceeds are by far the […]

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ECM Highlights: First Quarter 2021

Global Overview The wave of ECM activity which started in Q2 2020 continued into the new year as global ECM volume hit a record quarterly volume of $465.0bn in Q1 2021. The three other quarters since Q2 2020 all also occupy a spot in the top 5 highest volume quarters ever. With 2,221 deals priced […]

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Global Markets Rankings: First Quarter 2021

Global Markets Rankings for First Quarter 2021 Our quarterly rankings are now available     ECM Rankings Q1 2021 IPO volume hits $201bn – the highest quarterly volume on record View Report   M&A Rankings Global M&A revenue up 12.1% year-on-year to $7.1bn View Report   DCM Rankings JPMorgan tops global DCM volume and revenue […]

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M&A Highlights: First Quarter 2021

Sponsor-driven M&A in the fast lane Financial sponsor M&A has taken off this year, reaching its highest Q1 volume on record with $385.8bn via 779 deals, an increase of 142.9% compared with the same period in 2020. Financial sponsor entries also grew in volume by 85.8% year on year, the same with exits with a […]

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DCM Highlights: First Quarter 2021

EMEA and high yield take the relay to bring new issuance record As the world moves into the second year of COVID-19, capital markets – including the bond segment – keep giving market participants great opportunities amidst a landscape full of unsettling uncertainties. In this environment bond sales keep thriving for some asset classes, either […]

Insight

Leveraged Finance Highlights: First Quarter 2021

High yield bows to loans dominance despite record issuance For the second consecutive quarter since the pandemic started, revenue generated in both the US and Europe by loans has leapfrogged high yield. A booming loans market in the first three months of 2021 generated $2.5bn in revenue, up 33% on Q4 2020 whilst high yield […]