World in transition: Four themes

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

Opportunities in uncertain times  

European Leveraged Finance Client Alert Series: February 2021

There is more agreement about the damage short-termism is doing than about how to defeat it

Businesses must be prepared for legal challenges to their activities and proactively take steps to limit their exposure to climate change-related claims

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

In addition to regulating how CO2 is stored and transported, governments increasingly provide incentives to accelerate adoption of carbon capture and storage

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

Miners spent 2020 navigating the unprecedented challenge of COVID-19, and their resilience shone through. ESG was a dominant force but what should we expect as we head into 2021? 

Europe's recognition of the importance of fast and reliable connectivity predates the pandemic but as the demand for broadband connectivity has soared due to lockdown measures, how are countries across Europe placed for funding this high-speed provision?

In a year that saw global oil and gas M&A drop dramatically amid the COVID-19 pandemic, the Asian region generated record deal value

Lockdowns and market volatility have put companies across the board under financial pressure and forced many leveraged finance borrowers into restructurings

The use of net asset value finance by private equity firms has spiked under COVID-19 as managers explore new sources of liquidity in a weak M&A market

Refinancing activity has proven an attractive option amid COVID-19 disruption, with borrowers in good standing seeking to extend maturities and take advantage of low interest rates

Deal activity within the renewables sector has been a bright spot for energy M&A in 2020

Chinese real estate lenders lift APAC high yield bond issuance after an active Q3

Dividend recapitalization activity plunged in the immediate aftermath of COVID-19 but, as markets recovered, investor appetite for recap deals swelled

The oil and gas sector has been one of the hardest hit by COVID-19 lockdowns and there has been little relief as restructurings rise across the industry

A guide to navigating the rules for investing in countries that require foreign direct investment approval