Global Capital Markets Update with Kroll
Healthcare Headlines: Episode 8 – Healthcare Lending Deal Landscape Trends and Forecasts for the Future
Compliance with sanctions regimes has been a priority for debt markets. Amid rising geopolitical tensions, the stakes for lenders and borrowers are higher than ever - Intensifying geopolitical tensions and the US...more
The growth in private credit (lending by institutions other than banks) has been one of the most significant capital market developments of the last decade. It is estimated that the size of the private credit market was...more
During this session, the panelists discussed medical communications and market access with a particular focus on commercialization. The discussion focused on how firms are leveraging technology and AI to build brands, drive...more
On 11 July 2024, the Financial Conduct Authority (FCA) published Policy Statement PS24/6 (Policy Statement), in which it sets out its final UK listing rules and summarises feedback to its earlier consultation and stakeholder...more
As a testament to the U.S. capital markets’ resilience and ability to adapt, IPOs, debt markets and mergers and acquisitions (and related financings) have shown substantial increases over 2023. Activity to date in 2024...more
Private debt funds are rapidly expanding into a segment of the market traditionally dominated by banks - Bank lenders have traditionally been the primary providers of debt to finance infrastructure project development, but...more
Primary investment grade bond issuance surged in Q1 2024 as investors ramped up exposure to high-quality borrowers in a high interest rate environment. In the US, investment grade corporate borrowers secured US$429.7 billion...more
On 31 May 2024, a new Belgian law was published transposing the EU Collective Redress Directive into national law. The new Belgian law does not introduce an entirely new framework to allow so-called class actions as, unlike...more
Venture debt endured a challenging 2023, but as lenders look for new product lines to increase deployment after a quiet period, they are turning their attention to the venture debt market. US venture debt lending dropped...more
Although Environmental, Social and Governance-related (“ESG”) initiatives continue to face some political headwinds, and the ESG-linked debt market suffered a downturn in 2023, a nascent product type is piquing the interest...more
Higher interest rates presented a challenging environment for dealmakers and the debt markets in 2023. But what does 2024 have in store? In this edition of Credit Conditions, we look back at last year’s key market trends and...more
Excessive rigidity has the potential to drive away issuers. Authorities focused on delivering Net Zero must therefore design rules with this in mind....more
The global IPO market faced a downturn in 2023, but despite this, debt markets grew and new regulations suggest a dynamic shift as we head into 2024. Market overview- The global IPO market weakened further in 2023,...more
On 12 February, the Kenyan government added momentum to Africa’s return to international debt markets by successfully issuing a USD 1.5 billion Eurobond. The issuance followed similar moves by Côte d’Ivoire and Benin which...more
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
With incremental loan activity accounting for an outsize share of the leveraged lending market over the past year, we explore the top trends, insights and structuring considerations for lenders and borrowers - Although...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
This publication is one of several Allen & Overy publications on the FCA’s Consultation Paper (CP23/31), setting out its detailed proposals for listing rules reforms as part of its Primary Markets Effectiveness Review... ...more
In the second of our publications on the FCA’s Consultation Paper (CP23/31) setting out its detailed proposals for listing rules reforms, we take a closer look at what the proposals mean for the sponsor regime. The FCA...more
While the traditional reserve-based lending (RBL) market for domestic exploration & production (E&P) companies did not move significantly during 2023, it is noteworthy to observe a few trends....more
Today the FCA has published its Consultation Paper (CP23/31) setting out its detailed proposals for listing rules reforms as part of its Primary Markets Effectiveness Review. This is the first of two consultations on the...more
2023 Market Backdrop - U.S. and European capital markets in 2023 proved remarkably resilient in the face of challenges that read like a top 10 list of major market disrupters: - A rapid rise to higher-for-longer...more
Loan and bond issuance by borrowers/issuers in Latin America and the Caribbean (LatAm) in international debt markets dropped significantly over the first nine months of 2023. But after a slow start, momentum is beginning to...more
The challenges faced by the hospitality industry during and after the pandemic (e.g., shelter-in-place and lockdown requirements, increased materials cost due to supply chain disruption, lack of flight availability, and...more
The MAS issued a Notice on Business Conduct Requirements for Corporate Finance Advisers on 21 June 2023 that, among other things, imposes a requirement on relevant persons advising on corporate finance to apply enhanced due...more