European Leveraged Finance Client Alert Series: March 2021

COVID-19 disruption has had little impact on borrowers' ability to refinance debt and extend loan maturities

SWFs acquired more deals in 2020 as they hunted for stable returns in volatile times

Although most SPAC activity is concentrated in the US, the boom in listings spells opportunities for European firms

When COVID-19 closed the IPO window at the start of last year, expectations were bleak. But the market fought back and 2020 ended on a high.

As the pandemic continues to overshadow financial markets and the global economy, the following factors will have a major impact on the IPO market in 2021

Early-year highs gave way to a pandemic-driven downturn, which was then followed by a revival in H2

IPO activity ground to a halt following the outbreak of the pandemic, but activity in the second half of the year more than made up for the downturn

The European leveraged finance market remains resilient following a year of unprecedented hardship, as lenders dissect credits to determine the best possible deals, from business fundamentals to pricing and documentary terms

As the dust begins to settle, shareholder activists are making a comeback

European Leveraged Finance Client Alert Series: February 2021

Despite encouraging signs that economies could reopen as COVID-19 vaccinations are rolled out, additional waves of infections and extended travel restrictions weigh heavily on the leisure and hospitality industry