Leveraged finance activity in the healthcare sector made strong gains through Q1 2021 as the pandemic response saw the industry attract steady investor inflows and M&A interest

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

Management fee credit facilities have become increasingly popular among private equity firms during the pandemic as a tool to manage cash flow volatility

High yield bond and syndicated loan lenders are eager to fund US buyout deals, but competition from private debt markets and high secondary buyout volumes have restricted supply

High yield bond and leveraged loan issuance by European industrials, chemicals and materials companies sustained steady activity levels in Q1 2021 as they took advantage of a borrower-friendly market to raise financing

Borrowers are taking advantage of buoyant leveraged loan markets in the US and Europe to reprice existing credits at lower interest rates, and lenders are happy to oblige

Highly competitive and liquid markets saw leveraged loan issuance in the US and Europe surge, while activity in Asia-Pacific dipped despite high-profile jumbo deals

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

Rising to challenges, funding a recovery response and leading the way to sustainable lending

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

Many leveraged finance dealmakers welcomed the certainty and stability President Biden's election brought to capital markets but attention will now turn to what the new administration means for the markets in the long-term

Jennifer Kloud and Mitchell Kinastowski from BMO Sponsor Finance speak with White & Case partner Jacob Schtevie about BMO’s approach to funding technology credits, the importance of financial sponsor relationships in the mid-market and the growing popularity of recurring revenue financings

After a challenging 2020, APAC private equity dealmakers are forging ahead with deals, and financing markets are well-positioned to support the revival

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

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

Commercial chapter 11 filings in the US increased significantly in 2020, but government stimulus measures and widespread availability of fresh capital resulted in fewer corporate restructurings than many anticipated—that could change in the next 12 months

Record SPAC issuance is expected to boost M&A activity, supporting additional leveraged finance issuance, while financial sponsors take advantage of the opportunity to exit existing investments.

COVID-19 disruption and tension between the US and China saw loan and high yield bond issuance decline across Asia-Pacific in 2020, and borrowers and lenders remain cautious

General partner-led fund restructurings accounted for the majority of private equity secondaries volume in 2020 as managers sought liquidity in a flat exit market

In 2020, after a volatile first half, US leveraged finance markets experienced a strong second half and are well-positioned for 2021.

Financial institutions M&A sector trends: banks — H2 2020 and outlook for 2021

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

After years of warnings about maturity walls, impending cliff edges, downturns and interest rate hikes that failed to emerge, COVID-19 was the event that brought everything to a temporary standstill—but there's every chance that the markets will explode with activity in the months ahead