Recent Insights

metal wall
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
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
wind turbines at sea
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.
building windows
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
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
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
stock board
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
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
Office buildings at night
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
Africa Focus: Summer 2023
Delivering growth through sustainable development
Mining & Metals
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.
US issuers flock to convertible bonds in choppy market
Debt Explorer | Slowdowns in US IPO, high yield and syndicated loan markets have revived US convertible bond issuance as borrowers seek out cheaper debt due to rising interest rates
women in mining
Changing the face of mining
A review of women on boards and C-suite positions in the mining industry 2012 – 2022
Czech and Polish governments step up to support exporters
Debt Explorer | Few markets have been as directly impacted by the conflict in Ukraine as those in Czechia and Poland, but governments in both countries have stepped up with financial packages to shield exporters from the fallout
columns of data on mobile devices
Cybersecurity: Legal implications and risk management
In an increasingly interconnected world, cyber risk is firmly at the top of the boardroom agenda, and having an effective data breach response programme is no longer optional.
Time to shine in India’s M&A market
M&A Explorer | M&A activity in the world’s most populous country is nothing short of impressive
Stock market
Fund finance market—adapting to change
Debt Explorer | The fund finance ecosystem is in a period of flux as lenders and private equity funds take stock of new regulatory capital requirements and the impact of the collapse of several market participants
How CLOs are dealing with a post-SVB world
Debt Explorer | The fund finance ecosystem is in a period of flux as lenders and private equity funds take stock of new regulatory capital requirements and the impact of the collapse of several market participants
A spotlight on shareholder value spurs Japanese M&A
M&A Explorer | Much needed business restructurings and government incentives have the potential to drive acquisitions and divestments in Japan
maze garden
2023 Global compliance risk benchmarking survey
Industry perspectives on the state of compliance today and effective strategies for managing compliance risk within the changing regulatory landscape
Close up shot of pipette tips
European biotech enjoys a burst of dealmaking activity
M&A Explorer | The first quarter saw a string of transactions after a punishing year for the sector
Led lights
Public-to-private deals continue their hot streak
M&A Explorer | Even as public equity markets return to life, sponsors still find value in take-privates
Buyout and M&A slowdown weighs on debt markets in Spain
Debt Explorer | Prolonged M&A auction processes and cautious banks have put the brakes on leveraged finance activity in Spain, opening up opportunities for foreign lenders and private debt funds to gain market share
Middle East
Restructuring reforms energize the Middle East
Debt Explorer | The Middle East restructuring landscape has been transformed in recent years, attracting new investors and providing borrowers and lenders with more flexibility
M&A in Türkiye continues to perform
M&A Explorer | Deal activity in Türkiye remained resilient in Q1 2023, despite pre-election uncertainty, record-breaking inflation, a devastating natural disaster and geopolitical concerns, mainly due to the Russia-Ukraine war
London hero image
UK M&A volume continues to impress despite value crunch
M&A Explorer | This year should continue to deliver a steady pipeline of deals in what remains one of Europe’s most dynamic markets
stock market
Europe’s PE market braces for impact
M&A Explorer | Despite a slow start to the year, fundraising for impact strategies in Europe is on the rise and the long-term prospects are bright
Jakarta, Indonesia
Indonesia is riding strong tailwinds
M&A Explorer | Solid growth and promising deflationary signals are fueling a kinetic deal market in Southeast Asia’s largest economy
High yield bonds held firm in the first quarter against a tough backdrop
Debt Explorer | Despite ongoing economic headwinds, global high yield bond markets showed gains in the first quarter of 2023.
stock market
Macro headwinds dampen loan activity
Debt Explorer | Stubborn inflation, ongoing interest rate hikes and the banking crisis in the US and Europe have slowed activity across global loan markets at the start of the year, but there are signs that loan issuance may start rebounding in the months ahead.
Screen with source code
Global software M&A volume rebounds
M&A Explorer | Tech valuations fell through the second half 2022 and M&A in the sector shifted gears producing a rise in lower-value deals, particularly among private equity (PE) firms. That trend continued in Q1 2023
Office building
Global PE activity returns to baseline as boom fades
M&A Explorer | Aggregate global buyout value dipped sharply in the second half of 2022 reverting to pre-pandemic levels—the first three months of 2023, however, have seen an uptick in volume
At the leading hedge: Europe’s metal recycling and hydrogen push
Europe is turning towards metals recycling as a core component of an industrial hedging strategy around decarbonisation, reshaping its energy security in the process. 
Global M&A loses steam but powers on
M&A Explorer | Against the odds, dealmakers put in a solid performance in 2022, but this year has seen a slow start as buyers in the US M&A market clamor for much needed regulatory clarity
digital chart
US SPACs Data Hub
Welcome to the White & Case US SPACs Data Hub, which provides a quarterly review and analysis of key drivers and trends behind US SPAC IPO and de-SPAC activity.
Transatlantic M&A poised for a resurgence
M&A Explorer | After a year-long pause, US buyers are showing renewed interest in European assets, and analysts predict an M&A shopping spree in Europe over the second half of 2023 and beyond
Stock market graph
Global IPO markets pause to take a breath
Inflation concerns, rising interest rates and the specter of war cast a more sober tone over equity markets in 2022 and through Q1 2023, throttling appetite for IPOs in most regions—but not all
Birds eye view of a skyscrapers
Tech continues to dominate
Last year was a volatile 12 months for the tech sector, with a steep sell-off in growth stocks and a drop in IPOs—but, although the sector was down, it was by no means out
Stock exchange sign and building
Asia-Pacific's IPO market outshines
No region demonstrated more resilience than APAC in 2022, with the largest deal globally, the greatest total IPO value and volume, and the smallest year-on-year declines
Birds eye view of One World Trade Center
IPO hopefuls digest forthcoming regulatory changes
The US Securities and Exchange Commission has plans to regulate SPACs more closely and mandate ESG reporting—sponsors and companies should pay close attention