Insight

Loan Highlights: 3Q22

Troubled waters: global loans struggle to stay afloat in third quarter Global loan market activity continued to battle macroeconomic headwinds in 3Q22, reaching only USD 792bn of total issuance, down 35% from the same period last year. The quarterly figure is the second lowest in the past decade, exceeding only the USD 700bn raised during […]

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Investment Banking Revenue Report: 9M22

Global investment banking (IB) revenue nosedived in 9M22, battered by market volatility brought on by geo-political tension, surging inflation, soaring interest rates, and dampened corporate ardor. As mergers and acquisitions (M&A), equity capital markets (ECM) and fixed-income volumes and deal count cratered, so IB fees were down 39% in the year to date (YTD; to […]

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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 […]