Preparing for Pro Formas

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

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

Strong pandemic-era performance and a look around the corner

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

European Leveraged Finance Client Alert Series: September 2021

The SPAC phenomenon has spread to Israel, where regulators have laid the foundation for local SPAC IPOs as well  

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

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

Borrowers take advantage of hot loan and high yield bond markets to lock in M&A and leveraged buyout financing at attractive terms and pricing

Plentiful liquidity supports a year-on-year rise in high yield bond issuance in the US, Europe and the Asia-Pacific region  

Tightening liability spreads and the backlog from 2020 have seen European collateralized loan obligations resetting and refinancing at historic levels in 2021

Borrowers in the United States, Europe and Asia are tapping buoyant bond markets to extend maturities and refinance existing debt at cheaper rates

European non-performing loan trends in a post-COVID-19 world

Where will the European NPL market go from here? A lot depends on vaccine rollouts and the end of debt relief measures. For many, that will be their first chance to assess the damage and plan ahead.

Early in 2020, as the pandemic took hold, the European NPL market went into lockdown along with the rest of the economy—but as the market opened up in the second half of the year, NPL sellers jumped back in, setting the stage for a busier 2021.