Recent Insights

It's not just the rate of change. Our World in Transition hub focuses on the potential for transformation in energy, ESG, finance, globalization and US policy.  

After a record year of activity in 2021, European SPAC IPO issuance slowed in  Q1 2022. EU SPAC IPO proceeds totalled US$1.07 billion in Q1 2022.

Smart city initiatives in Latin America have too often been overshadowed by high-profile projects in North America. But the tide is changing, and smart city projects throughout the region are gaining traction like never before.

Long-term consumer behavior triggered by the pandemic continues to catalyze deal activity  

The global drive towards a low-carbon circular economy and increased focus on ESG are creating many new opportunities for metal recycling projects. But is scrap the answer to the growing demand for green metals?

Ambitious decarbonization targets and high investment returns are drawing interest from both local and international buyers  

Welcome to the White & Case US SPACs Data Hub, which provides a quarterly review and analysis of key drivers and trends behind US De-SPAC M&A activity and SPAC IPO activity.

Despite a decline in overall bond and loan issuance in the Latin American region, ESG-linked debt issuance thrived in 2021—and looks set to continue in the months ahead  

Private equity dealmaking was slow to pick up the pace in Q1, yet activity remained in line with pre-pandemic levels

While global dealmaking in Q1 was down from a blockbuster 2021, there are signs deal activity could pick up later in the year

Fueled by strong stock markets and the need for yield, investors poured money into IPOs in 2021, resulting in a record-breaking year

After a flurry of new listings in the first quarter of 2021, SPAC IPOs slowed down considerably, but the asset class remains a viable path for companies to go public

While IPO activity was robust throughout Europe, the Nordic region stood out

IPOs of Latin America-based companies enjoyed a robust year in 2021, especially when it came to listings in Brazil in sectors like fintech

IPOs boomed in 2021, with both the number of new listings and the total proceeds raised breaking records. But dealmakers face a tougher road ahead.  

After weathering pandemic-related disruption early in 2021, Latin American loan and bond markets remained open for business, with bonds leading the way

Companies across the globe are turning to M&A to fulfill their ESG ambitions while investors seek the steep returns on offer

Sponsors spot value in companies that support others in digitally transforming their operations

Vehicle sales rebounded strongly following lockdowns, but Europe’s automotive companies confront a period of significant change as governments phase out combustion engines, supply chain constraints bite and the impacts of events in Ukraine are felt  

M&A activity down under reaches unprecedented highs as decarbonization and digitalization drive the dealmaker agenda

A combination of SPACs, pent-up demand from pandemic-shocked 2020 and a wave of technology listings drove the IPO market to record highs 

The UK has left the EU but there remains a vast array of operational and legal issues for businesses to address. See below for our perspectives on the key challenges and opportunities that Brexit presents for different industries and sectors.

As the COVID-19 outbreak continues to escalate, ensuring wellbeing of employees is paramount, but it is not the only challenge. There is a vast sway of operational and legal issues that businesses must address, too.

Ambitious decarbonization policies are encouraging dealmaking within the renewables industry, with the sector’s untapped potential too big to ignore  

Dealmaker interest from both home and abroad, along with record private equity activity, has driven India’s dealmaking activity to an all-time high  

Real estate sector headwinds stifled high yield markets in the Asia-Pacific region, but loan issuance went from strength to strength to post double-digit gains  

The aviation sector has endured a difficult two years amid border closures and lockdowns. In spite of persistent volatility and uncertainty, our survey finds that senior executives are cautiously optimistic about the state of global aviation financing in 2022

Leveraged loan and high yield bond markets in Western and Southern Europe saw a major resurgence in the past 12 months, driven initially by refinancing, followed by almost unprecedented M&A and buyout issuance, and setting the stage for, on balance, a productive year ahead  

Large double-digit gains in US loan issuance meant leveraged finance markets ended 2021 with a bang and set the stage for robust activity in 2022  

Financial stimulus and sustained investor appetite for yield have seen US CLO issuance scale record heights  

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  

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

Interest in high-growth industries such as TMT and financial services resulted in a string of deals—from both local and international bidders.  

The UK Pensions Regulator is gaining stronger powers, which will have a significant impact on companies undertaking activities such as M&A, secured borrowing, and restructuring. Following best practice and thinking ahead have become more important than ever.

Governments around the world are tightening their scrutiny of foreign direct investments  

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.

Against a backdrop of record commodity prices and the pressure for miners to boost their ESG credentials, the sector is seeking to position itself as a trusted partner in fighting climate change. Will 2022 cement the mining & metals industry’s role as a central plank of the energy transition?

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