Despite Macroeconomic Volatility, High Yield Issuance Recorded Year-On-Year Gains In 2025 As Interest Rate Cuts And Investor Demand Lifted Activity Levels, Especially In The US....more
Hughes Hubbard advised United Airlines on the issuance of two series of senior notes, due in 2029 and 2031, for a combined principal amount of $2 billion. In the first transaction, United issued in a public offering $1...more
In a 7-page Order filed January 28, 2026, the Third District Court of Appeal denied Appellant DWR’s request for rehearing and modified its partially published opinion in Department of Water Resources v. Metropolitan Water...more
Market dynamics reshape borrower choices - Competition between lending channels intensified in 2025, as leveraged finance markets in Europe saw lenders vying for deals and offering borrowers greater flexibility ahead of an...more
The UK Financial Conduct Authority (FCA) has issued a statement following its September update regarding the legal challenge to its decision to award the bond consolidated tape provider contract. The FCA confirms it has...more
English law occupies a unique and influential position in global finance, sharing its status with New York law as one of the two dominant legal systems underpinning the international financial markets....more
The US high yield bond market is on track for its busiest year since 2021 after posting double-digit gains in year-on-year issuance through the first nine months of 2025. In comparison, high yield markets in Europe and...more
We saw some dramatic swings in most major currencies last week, with a global bond market selloff and abysmal US jobs data infusing notable volatility into the currency market, particularly the pound and US dollar....more
Italy’s high yield bond market thrived during the first half of the year, delivering a double-digit year-on-year increase in issuance, and standing in stark contrast to the broader market slowdown observed in Europe....more
The European Commission unveiled new measures to help Member States ramp up defence spending by 2030 among mounting concerns about Europe's security. The proposals reflect a renewed push to coordinate spending and provide...more
After a bumpy start to the second quarter, when tariff announcements inhibited issuance, US high yield bond activity rallied strongly, demonstrating the market’s resilience and maturity....more
The UK Financial Conduct Authority (FCA) has published a tender notice and related tender documents for the appointment of a bond consolidated tape provider (CTP). The tender documents explain the award process and how to...more
While issuance of high yield bonds strengthened across all key global jurisdictions in 2024, the US and Europe still face mounting maturity walls - High yield bond issuance in key markets around the world recorded major...more
Latin American economies are uniquely positioned due to their geographical proximity to the United States, extensive economic integration, significant immigration patterns and potential for growth. The U.S. serves as the...more
High yield bond issuance in the US and Europe has made strong gains as issuers return to the market to refinance at more attractive rates - High yield bond markets in the US and Europe made strong gains through the first...more
The sale of Reverse Yankee bonds by prominent US issuers – often with higher credit ratings – has recently continued at a rapid pace. Reverse Yankee bonds are debt securities issued by US issuers that are denominated in a...more
The bond yield curve inverted in October 2022. When that occurred, it started a countdown to recession. At least it has every time since 1968. Specifically, for the last eight recessions since 1968, every single recession was...more
Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •AGs Don’t Like NCAA’s Name-Image-Likeness Restrictions- ...more
Texas AG Ken Paxton announced that, “until further notice,” Barclays is no longer permitted to purchase or underwrite public securities, or otherwise be a party to a covered contract relating to the public security, after...more
Whole-business securitization (WBS), a structured finance product where a company issues secured debt against substantially all of its cash-yielding assets, is now on the radar of dealmakers seeking ways to manage M&A...more
Representing clients going through divorce is itself a challenging task because what clients want from that process is often quite varied. Clients from the world of venture capital or real estate are often willing to forego...more
Stock Market Commentary - The S&P 500 Index fell 3.30% during the third quarter of 2023, with growth stocks losing slightly less than value stocks. Interest rate–sensitive stocks in the utilities and real estate sectors...more
As odd as it may seem and as odd as it is to say, what the municipal market, medium-sized banks, and the real estate market need is a good old fashioned (but not too severe) recession. On July 26, the Federal Reserve Board...more
General market unease in the first fiscal quarter of 2023 was evident. The back-to-back collapse of two regional banks spooked investors and the effects of two federal rate increases rippled through the market. Uncertainty in...more
Bond markets have been in upheaval recently, with knock-on impacts on decisions on whether to make or defend calls on performance security on construction projects. In the first quarter of this year, we saw the continued...more