News & Analysis as of

Private Equity High Yield Bonds

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Uptick in high yield could signal start of recovery

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High yield bond issuance in the US and Europe improved in 2023, but came in significantly below long-term annual averages, while markets in the Asia-Pacific (“APAC”) (excl. Japan) region remained stymied, primarily due to...more

Goodwin

Debt Download - July 2023

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Welcome to Debt Download, Goodwin's monthly newsletter covering what you need to know in the leveraged finance market. Are the debt capital markets this summer as hot as the weather? Read on to find out!...more

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Private debt players open for business, but only on the right terms

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Private debt managers seized the opportunity to win market share in 2022 as leveraged loan and high yield bond activity slowed—moving into 2023, private debt players remain open for business, but mainly on their terms - ...more

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What’s next for US M&A?

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As predicted in our previous M&A report, 2022 has not lived up to the runaway performance of 2021. As activity—still at impressive levels considering everything that has been thrown at the deal market—takes a breather, we...more

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The Basics of Bridge Loans - European Leveraged Finance Client Alert Series: July 2022

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Bridge loans are a key way to finance large acquisitions, but their terms are very specialized. In "The Basics of Bridge Loans", the White & Case team explains the key terms of bridge loans and discusses some challenges faced...more

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Buyout momentum paints a strong picture for issuance in 2022

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HEADLINES - ▪️ Buyout deal value in Western Europe hit an all-time record high by the end of 2021, more than doubling year-on-year  ▪️ Private equity (PE) activity supported an 81% uplift in buyout loan issuance...more

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Buyout momentum paints a strong picture for issuance in 2022

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HEADLINES - • Buyout deal value in Western Europe hit an all-time record high by the end of 2021, more than doubling year-on-year • Private equity (PE) activity supported an 81% uplift in buyout loan issuance...more

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Active private equity firms buoy buyout issuance

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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 - Buyouts are back in a big way. Private equity (PE) firms around...more

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Direct lending in the US is in good shape post-COVID-19

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After a volatile and challenging year, US direct lenders moved into 2021 with reputations enhanced and teams strongly positioned to fund new deals. But we cannot discuss current direct lending in the US without casting a...more

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Healthcare leveraged finance issuance climbs

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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 - With the pandemic still working its way...more

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Lenders eager to finance US buyouts, but supply of new deals tightens

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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...more

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Hospitality/Leisure M&A finds flourishing niches in 2020

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The effect of the COVID-19 pandemic on the hospitality industry has been especially severe, the face-to-face nature of commercial activity in the space making it especially susceptible to social distancing and lockdown...more

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LBO issuance slides on slow buyout activity

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Leveraged buyout high yield bond and leveraged loan issuance fell in Q3 2020 as a lack of buyout deals in a still cautious M&A market dampened appetite for financing - Although leveraged buyout (LBO) activity showed signs...more

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Resurging leveraged loan issuance points to a stronger year

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After taking a deep dive in Q2, US leveraged loan issuance picked up in Q3, while European markets gained year on year - Having navigated extreme market dislocation due to COVID-19 for the past six months, leveraged loan...more

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