Recent Insights

COVID-19 is hammering leisure sector M&A—but not so much that opportunities have vanished

Even though COVID-19 has taken a toll on consumer spending and supply chains, the food and beverage industry has shown resilience and continues to tap credit markets

Few sectors have felt the impact of COVID-19 as deeply as aviation, and airlines are exploring all lines of finance to bolster balance sheets.

COVID-19 travel restrictions have put the aviation industry on the backfoot. M&A will not be an immediate priority, but consolidation and distressed deals will come in time

The COVID-19 lockdown forced restaurants, hotels, gyms, theaters and casinos to shut their doors and put balance sheets under extreme strain, but some have tapped debt markets to see them through

Retailers faced a difficult financing market before COVID-19 appeared, but lockdowns have made the situation even tougher

COVID-19 has put dealmaking in the already disrupted retail industry under further strain. Some retailers, however, have proven resilient and those that survive will see opportunity to vertically integrate supply chains and invest in technology capabilities

The COVID-19 pandemic has revealed some of the shortcomings of major cities in times of crisis. As the world searches for ways to make urban areas more resilient, smart city initiatives offer some of the answers.

Oil & gas dealmaking has plummeted following a period of prolonged low oil prices and a steep fall in demand due to COVID-19. However, large players with strong balance sheets could still see opportunities to invest

Underwriters are grappling with the need to support clients that are accessing funding, while maintaining disclosure standards and managing their risk when the tools they’ve typically used may be unavailable

The impact of the coronavirus pandemic saw high yield bond issuances grind to a halt at the end of Q1, but markets started to revive in Q2

Despite a promising beginning to the year, US and European leveraged loan markets felt the full economic impact of the pandemic

We highlight the responses companies are taking in light of the current environment and the arguments some buyers are making to terminate transactions

Half of the executives in our survey expect to do more deals if there's a downturn in 2020 than if there isn't

Activism affects virtually everyone now—even those who may never have to deal with an activist

Cross-border M&A remains a high priority—though trade wars and national security rules change the game for some

Digital drives deals in every sector, ensuring tech is a primary focus of M&A across the board—even as data challenges multiply

In a world roiled by activism, geopolitical uncertainty and data risk, dealmakers are eager to lean in, according to our survey

As the effects of coronavirus on the primary and secondary debt markets continue, there will be ongoing implications for leveraged finance transactions

LIBOR, one of the most significant global benchmarks for calculating interest, is to be phased out by 2021 and replaced by alternative benchmarks in the form of risk-free rates. With LIBOR widely used in the loan, bond and derivatives markets, and in many long-term contracts, the impact of this change cannot be underestimated. The transition to the new replacement rates will not be an easy process, but it is a necessary one, and market participants must start now.

Financial institutions M&A sector trends: banks — H2 2019 and outlook for 2020

Financial institutions M&A sector trends: fintech — H2 2019 and outlook for 2020

Financial institutions M&A sector trends: asset/wealth management — H2 2019 and outlook for 2020

Financial institutions M&A sector trends: payments — H2 2019 and outlook for 2020

Financial institutions M&A sector trends: stock exchanges/clearing houses/trading venues — H2 2019 and outlook for 2020

Financial institutions M&A sector trends: brokers/corporate finance — H2 2019 and outlook for 2020

Financial institutions M&A sector trends: consumer finance — H2 2019 and outlook for 2020

Financial institutions M&A sector trends: specialty finance/marketplace lending — H2 2019 and outlook for 2020

Growth in the European leveraged finance market remained steady in 2019, with 2020 set to continue at pace, with enhanced focus on the trade-off of protection from risk versus a higher yield.

We highlight the key European M&A trends in the second half of 2019, and provide our insights into the outlook for M&A moving forward

Last year saw a slew of notable transactions in the sector despite reduced appetite overall for energy industry M&A

While global M&A fell in 2019, the US forged ahead, maintaining its year-on-year value and taking a greater share of the global deal market.

Our exclusive survey of senior executives who have financed the aviation industry in the past three years reveals that the overall investment outlook for the sector is bright, with one region in particular set for larger growth than its global equivalents

The multiplicity of financing sources such as asset-backed security, insurance and leasing companies has been crucial for the sector. In this section, we reveal the origins and sources of expected funding in 2020

Despite the sector's current strong performance, many survey respondents believe the industry needs even more capital and liquidity. In addition, most expect restructurings and insolvencies to increase in 2020

Economic volatility, political unrest and fierce competition are all seen as major challenges to the sector in the coming 12 to 18 months. Meanwhile, respondents are preparing for rising oil prices and growing industry consolidation

We explore key takeaways from our exclusive survey and what they could mean for the aviation industry and aviation finance

Aviation finance is proving its resilience amid a cooling global economy. Our survey finds that senior executives in the sector are optimistic that global levels of aircraft financing will increase in 2020.

The global mining & metals sector is facing one of its most challenging transitions yet, as the industry is considering how it can best position itself to regain and maintain stakeholder confidence on ESG matters