Insight
ECM Highlights: 3Q22
Quiet ECM but Porsche makes some noise Once again, fresh equity issuance took the back seat as the lazy summer break gave way to rising volatility on the back of US inflation data and hawkish talk from the US Federal Reserve. Global ECM deal value in the third quarter of 2022 stood at just over […]
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LevFin Highlights 3Q22
Leveraged finance (LevFin) issuance shrank to one of the lowest quarterly levels since the global financial crisis amid persistently challenging macroeconomic conditions and a high cost of debt. In 3Q22, the total volume of syndicated institutional loans and high-yield (HY) bonds across the US and Europe plummeted 84.4% year-on-year (YoY) and 52.5% quarter-on-quarter (QoQ) to […]
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Bond Highlights: 3Q22
The fall in global bond supply has accelerated into the second half of the year. Rising interest rates combined with concerns over economic growth are heaping pressure on primary markets, hiking funding costs and resigning many borrowers to the sidelines. Issuance volumes have slumped around 28% year-on-year (YoY) to USD 5.2trn in the year to […]
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M&A Highlights: 3Q22
Powered by Dealogic data, M&A Highlights reviews M&A activity across North America, EMEA and APAC in 2022 to date. All data correct as at 30th September 2022. How low can it go? Global M&A plunges again in 3Q22 Mergers and acquisitions took a sharper downturn in the third quarter as the world continued to grapple […]
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Global Markets Rankings: Full Year 2021
Global Markets Rankings for Full Year 2021 Our quarterly rankings are now available ECM Rankings Global ECM volume at historical high thanks to record performance in Q1 and Q2 View Report M&A Rankings Global full year M&A reaches highest level in history with $5.9tn, an increase of 62.1% compared to full year 2020 […]
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M&A Highlight: Full Year 2021
Private equity: A meteoric rise Global PE activity accounted for 27% of worldwide M&A activity by value and 9% by deal count in 2021, setting a new record for the total share of sponsor-led dealmaking. Buoyed by low interest rates and high volumes of dry powder, the PE space saw USD 1.5tn change hands across […]
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ECM Highlight: Full Year 2021
South Korea and India enjoy stellar IPO performances Asia-Pacific (APAC) exchanges have raised USD 170.3bn from 384 IPOs in 2021, well above 2020, when activity topped USD 130.3bn across 243 deals. Hong Kong’s exchange was surpassed by mainland China as the home of choice for Asian issuers, as India and South Korea saw a boom […]
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LevFin Highlight: Full Year 2021
US and European yields converge Yields gradually narrowed across the leveraged universe from pandemic-induced spikes in the 6-7% area to a range of 4.4-5.5% by end-2020, and these continued tightening in 1Q21. In the US institutional loan market, the weighted average yield reached its lowest point of 4.1% in 1Q21, with an average margin of […]
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DCM Highlight: Full Year 2021
Green lights: EMEA takes the lead in going green Corporates globally have raised a total of USD 236bn in sustainable (including green) bonds in 2021 YTD, taking a big slice of the total USD 819bn raised across all borrower types including SSAs, financial institutions and asset-backed securities. Corporates in EMEA have been by far the biggest issuers […]
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Loans Highlight: Full Year 2021
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 […]