Investors eager to maintain high levels of capital deployment have kept terms and pricing highly flexible for bond and loan issuers, but that does not mean easy access for borrowers—lenders are still pushing back against credits that fall short of the quality bar

Reopening economies have transformed the credit landscape with ratings upgrades rising sharply through the year, after 2020 recorded the highest number of downgrades in more than two decades.

European Leveraged Finance Client Alert Series: December 2021

The rise in sustainability-linked debt issuance observed in 2021 has shown little sign of slowing down as borrowers continue to focus on improving ESG performance in response to investor demand.

In a rapidly maturing SPAC market, sponsors are more frequently turning to debt financing tools to fund deals

Recovering oil prices brought much needed stability to the balance sheets of oil and gas borrowers that were on the brink of foreclosure through lockdowns, but the transition away from hydrocarbons poses an ongoing challenge for issuers.

Issuance of leveraged loans and high yield bonds to fund buyouts surged to quarterly highs in 2021 as private equity sponsors raised their investment game

COP26 Video Series

The Financial Regulatory Observer spotlights selected topics currently driving regulatory and technological changes in the financial industry.

It has been a period rife with notable shifts on the global stage; a new administration in the US, the end of the Brexit transition period and the reaching of key milestones in the discontinuation of LIBOR, to name but a few.

Key considerations for banks engaging with governments and peer institutions to improve financial crime compliance systems

Challenges and opportunities in the US, UK and Europe

Despite a spike in energy prices and persistent inflation, year-to-date leveraged loan activity showed substantial gains on 2020 levels  

A rebounding domestic economy and abundant liquidity south of the border are encouraging Canadian borrowers to draw on US high yield bond markets in increasing numbers

Lender caution following Zambia's debt repayment default in 2020 has weighed on African debt issuance, but successful raisings by high profile borrowers show that investor appetite remains resilient

Global high yield markets paused for breath in Q3 2021, but year-to-date issuance remains ahead of 2020 levels in most regions

Opportunities and challenges in post-COVID-19 Latin America

COVID-19 has created strong incentives for investment in digital infrastructure in Latin America, especially in 5G, private networks, data centers and fiberoptic cables

GSS bonds and other forms of sustainable finance have become a mainstream feature of Latin American debt capital markets

Sovereign debt restructuring solutions developed in Latin America during 2020 and 2021 create a new paradigm for sovereign debt restructurings in the region and globally

Key legal developments in 2021 and their implications for Taiwan

What's next for Taiwanese banks and businesses?

We highlight the key European M&A trends in the first half of 2021, and provide our insights into the outlook for M&A moving forward.

Financial institutions M&A sector trends: banks — H1 2021 and outlook for H2 2021

ESG-linked financing issuance swelled in 2021, with issuers responding to the rapid growth in investor demand for environmental and socially-linked debt issuance

Lifting pandemic restrictions, coupled with successful vaccination rollouts in the Gulf and an improving economic outlook, supported a rebound in loan and bond activity in the Middle East in the first half of 2021

Strong refinancing appetite sustains the high yield bond market in the Asia-Pacific region despite a slowdown in real estate issuance in China.

Lender caution following Zambia’s debt repayment default in 2020 has weighed on African debt issuance, but successful raisings by high profile borrowers show that investor appetite remains resilient

Loan issuance from Indian borrowers has tailed off because of rising COVID-19 infections, but high-profile mega-deal financings have given lenders and borrowers cause for optimism  

Debt markets warm to issuers from a broader range of sectors, maintaining high levels of refinancing activity  

For the first time in years, inflation is on the radar for high yield bond and leveraged loan lenders and borrowers—but how might it impact markets?