As we enter the second half of the year, it is once again time for many foreign private issuers (“FPIs”) to complete their annual assessment of FPI status. The determination of whether an issuer is an FPI must be made as of...more
European leveraged finance in 2023 was saddled with the negative effects of elevated interest rates. But as the market adjusts to the “new normal”, rate and price stability offer hope for a brighter 2024.
-Rising interest...more
1/30/2024
/ Acquisitions ,
Banking Sector ,
Buyouts ,
Debt ,
Debt Market ,
EU ,
Financial Institutions ,
Interest Rates ,
Investment ,
Leveraged Finance ,
Loans ,
Mergers ,
Private Equity ,
Refinancing
High yield bond markets in the US and Western Europe posted double-digit increases in issuance during the first nine months of 2023 as borrowers continued to prefer fixed rate debt products in a high interest rate...more
High yield bond activity rallies in the US as borrowers pivot away from pricier leveraged loans, but European and Asian markets remain challenged
US high yield bond activity sparked back to life in H1 2023 as improved...more
High yield bond activity in key global markets showed signs of life in Q1 2023, with quarter-on-quarter issuance improving despite ongoing macroeconomic challenges. In the US, high yield bond issuance in Q1 2023 came in at...more
In the face of rising interest rates and macro-economic uncertainty, infrastructure finance has proven relatively resilient when compared to the dislocation in other debt markets....more
HEADLINES -
• Leverage loan technology and computer-related issuance in Western and Southern Europe almost doubled from annual pre-pandemic levels to €19.9 billion by the end of 2021
• Technology and computer-related...more
2/8/2022
/ Acquisitions ,
Borrowers ,
EU ,
High Yield Bonds ,
Investors ,
Lenders ,
Leveraged Finance ,
Leveraged Loans ,
Mergers ,
Startups ,
Technology Sector
Pro forma financial statements may be required in a securities offering where an acquisition or disposition has occurred or is probable within a certain period of the offering. In a Rule 144A offering, market practice is...more
11/23/2021
/ Acquisitions ,
Asset Test ,
Auditors ,
Capital Markets ,
Disclosure Requirements ,
Dispositions ,
EU ,
Financial Services Industry ,
Financial Statements ,
Income Test ,
Investment ,
Investment Test ,
Investors ,
Offerings ,
Pro Forma Sessions ,
Required Documentation ,
Rule 144A ,
Securities and Exchange Commission (SEC)
The White & Case Capital Markets team updates its March 2018 publication on bond repurchases given the current environment where issuers may consider whether, if their bonds are trading at a discount to par, they should...more
3/30/2020
/ Bond Issuers ,
Bonds ,
Buyback Programs ,
Capital Markets ,
Coronavirus/COVID-19 ,
Creeping Tenders ,
Disclosure Requirements ,
EU ,
EU Market Abuse Regulation (EU MAR) ,
Offerors ,
Repurchases ,
Rule 144A ,
Securities and Exchange Commission (SEC) ,
Threshold Requirements ,
Wellman Factors
An issuer of high yield bonds is subject to a number of different ongoing reporting obligations, some of which are contractual and some of which are regulatory. As part of the transaction process, issuers should take these...more