Financing

Islamic finance providers have been slow to make the transition away from LIBOR, as the replacement benchmark rates pose challenges in the context of Sharia compliance

Issuers are tapping institutional loan markets for add-on debt at a rapid pace as private equity firms turn to buy-and-build strategies to lower entry multiples and accelerate deployment  

Following a year of healthy activity, M&A deals in the pipeline are set to sustain leveraged finance issuance in the pharmaceutical, medical and biotech sector in the months ahead.

European leveraged finance markets rebounded in the past 12 months, driven  by enthusiastic refinancing activity and a resurgent M&A marketplace, setting the  stage for a healthy year ahead

Investors eager to maintain high levels of capital deployment have kept terms and pricing highly flexible for bond and loan issuers, but that does not mean easy access for borrowers—lenders are still pushing back against credits that fall short of the quality bar

Reopening economies have transformed the credit landscape with ratings upgrades rising sharply through the year, after 2020 recorded the highest number of downgrades in more than two decades.

The rise in sustainability-linked debt issuance observed in 2021 has shown little sign of slowing down as borrowers continue to focus on improving ESG performance in response to investor demand.

Recovering oil prices brought much needed stability to the balance sheets of oil and gas borrowers that were on the brink of foreclosure through lockdowns, but the transition away from hydrocarbons poses an ongoing challenge for issuers.

Issuance of leveraged loans and high yield bonds to fund buyouts surged to quarterly highs in 2021 as private equity sponsors raised their investment game

The Financial Regulatory Observer spotlights selected topics currently driving regulatory and technological changes in the financial industry.

Despite a spike in energy prices and persistent inflation, year-to-date leveraged loan activity showed substantial gains on 2020 levels  

A rebounding domestic economy and abundant liquidity south of the border are encouraging Canadian borrowers to draw on US high yield bond markets in increasing numbers

Transitioning to new priorities in a post-pandemic era

Global high yield markets paused for breath in Q3 2021, but year-to-date issuance remains ahead of 2020 levels in most regions

Opportunities and challenges in post-COVID-19 Latin America

Our survey shows investment in infrastructure assets looks set to accelerate with an anticipated boost from the US infrastructure bill and a growing focus on sustainability and technology