Recent Insights

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European leveraged finance enters new era
Debt Explorer | High interest rates weighed down on deals, precipitating a drop in leveraged loan issuance in 2023. However, there are reasons to be optimistic that deal activity will pick up in 2024
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Late rally softens leveraged loan landing
Debt Explorer | A strong finish to 2023 helped to boost global leveraged loan issuance at the end of an otherwise rocky year for all key markets
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Uptick in high yield could signal start of recovery
Debt Explorer | High yield bond issuance made gains in some key jurisdictions in 2023 but challenges remain
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Dealmakers prepare to face new uncertainties in 2024
M&A Explorer | Anticipated rate cuts spark investor optimism, but escalating geopolitical tensions threaten to derail economic recovery
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French dealmakers pin hopes on improving macro conditions
M&A Explorer | French M&A retreated to pre-pandemic levels last year, but decreasing inflation could spur transformative dealmaking in 2024
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Net-zero goals boost investment in tech sector
M&A Explorer | As the global energy transition gathers pace, innovation in clean energy solutions is producing a steady flow of deal opportunities
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Incremental debt holds steady in uneven loan market
Debt Explorer | With incremental loan activity accounting for an outsize share of the leveraged lending market over the past year, we explore the top trends, insights and structuring considerations for lenders and borrowers
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European leveraged finance: A whole new world
European leveraged finance in 2023 was saddled with the negative effects of elevated interest rates. But as the market adjusts to the "new normal", rate and price stability offer hope for a brighter 2024.
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Financial Times Moral Money Forum reports, in partnership with White & Case
Africa Focus: Winter 2023
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Africa Focus: Winter 2023
Fueling a sustainable future
Islamic finance
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Sukuk drive Islamic financing across MENAT
Debt Explorer | State-owned funds continue to be active players on the global dealmaking scene, despite the market downturn
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Luxury powerhouses turn to M&A amid slowing sales
M&A Explorer | Declining consumer spending power is driving down revenues and pushing luxury firms to seek new avenues for growth
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Taiwan: Adapting to ongoing macroeconomic and regulatory uncertainty
Key legal developments in 2023 and their implications for Taiwan
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Whole-business securitization on the M&A radar
Debt Explorer | Whole-business securitization financing has been traditionally used to lower general corporate debt costs and sometimes used to recapitalize companies. Now, dealmakers are exploring whether the structure can also be applied in M&A transactions
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Investors flock to lucrative aerospace and defense industry
M&A Explorer | Against a backdrop of growing geopolitical unrest, space, satellite and surveillance assets attract increasing premiums
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Investing in India
From challenges to solutions
Sao Paulo, Brazil
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LatAm debt markets ready to rebound
Debt Explorer | After a slow first half, the outlook for Latin American debt markets is improving as inflation cools and interest rates stabilize
Tokyo
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US outbound M&A into China pivots to Korea and Japan
M&A Explorer | Long-time US allies Japan and South Korea benefit from tensions between Washington and Beijing
Latin America Focus: Fall 2023
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Latin America Focus: Fall 2023
Despite political uncertainty and a slowdown in GDP growth across Latin America, there are plenty of bright spots and opportunities on the horizon for those who know where to find them.
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Big Oil displays commitment to net zero through dealmaking
M&A Explorer | As the market turmoil of 2022 fades, energy supermajors are using M&A to expand into renewables and low-carbon solutions
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Southeast Asia’s star ready to rise
M&A Explorer | Tech innovation and frontier-market growth both point to dynamic future for regional M&A
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Sovereign wealth funds power M&A in 2023
M&A Explorer | State-owned funds continue to be active players on the global dealmaking scene, despite the market downturn
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European NPLs: Market earns welcome breathing room
The ongoing decline in NPL volumes in 2022 and pivot towards smaller disposals leave European lenders well positioned to withstand adverse economic conditions.
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Dealmaking set for comeback in North America’s food industry
M&A Explorer | M&A is proving popular with companies looking to reinvigorate their portfolios and adapt to shifting consumer demands
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International bidders bolster German M&A
M&A Explorer | Amid a challenging economic climate, international buyers prompted by the energy transition target mainstay sectors including industrials & chemicals and automotive
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Carve-outs: A valuable tool for European firms
M&A Explorer | Strategic carve-outs continue to present a strong business case, as companies shed non-core assets and position themselves for growth
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Geopolitics and decarbonization in the mining & metals sector
Geography—as much as geology—is driving commercial activity and opportunities for mining & metals firms as decarbonization accelerates
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Financial institutions M&A: Sector trends - September 2023
We highlight the key UK & European M&A trends in H2 2022 and H1 2023, and provide our insights into the outlook for M&A moving forward.
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Transatlantic M&A bull run set for comeback
M&A Explorer | Encouraged by the relative strength of the dollar and improving financing conditions, US bidders are snapping up European assets
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US high yield markets spring to life
Debt Explorer | High yield bond activity rallies in the US as borrowers pivot away from pricier leveraged loans, but European and Asian markets remain challenged
technology
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Generative AI boom sparks investment spree
M&A Explorer | A flurry of dealmaking is taking place as investors look to stake their claim in AI's newest frontier
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Pivot potential: A deep dive into offshore wind in the Gulf of Mexico
After years of blunted growth and false starts, the US is finally scaling up offshore wind, with the Gulf of Mexico as the potential new setting.
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Term loan C in the spotlight
Debt Explorer | In debt markets characterized by tighter liquidity and cautious lenders, term loan C debt is providing borrowers with essential liquidity
Spain
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Spanish M&A resists market pressures in H1
M&A Explorer | The country’s hotly targeted renewables sector ensured a steady flow of deals in the first half of the year
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Subdued macro conditions shelve major loan activity
Debt Explorer | Loan issuance across all major jurisdictions saw year-on-year double-digit declines during the first half of 2023, as high inflation and rising interest rates continued to weigh on loan activity
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Global M&A faces market headwinds in Q2
M&A Explorer | Ongoing uncertainty hampers dealmaking in second quarter of the year, but mining megadeals and the race for clean energy offer a ray of hope
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Flexibility is key: Australia’s leveraged finance market rises to the challenge
Debt Explorer | Sponsors hope increasing competition and the flexibility of Australia’s leveraged finance market will provide increasing optionality during challenging times
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Public-to-private deals offer a bright spot in flat M&A market
Debt Explorer | Private equity buyout activity has slowed in the face of macroeconomic headwinds, but public-to-private transactions have shown little sign of slowing down
Insight
Africa Focus: Summer 2023
Delivering growth through sustainable development
Mining & Metals
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Securing investment: FDI screening and the mining & metals sector
In the world of shifting geopolitical tensions and supply chain vulnerabilities exacerbated by the COVID-19 pandemic, the push for mineral & metal security is changing the way governments, regulators, sector participants and lenders evaluate foreign investment.