Debt Financing Trends – Joe Price, Member, Corporate & Securities Practice
A continuation fund is an entity fund set up by a sponsor in order to purchase an asset (or assets) from an existing fund managed by that sponsor. There are a number of reasons as to why a sponsor would want to pursue this...more
As borrowers continue to feel the squeeze caused by inflation and high interest rates, lenders in the European mid-market have seen a marked increase in covenant relief, waiver and amend and extend requests from borrowers on...more
U.S. Citizenship and Immigration Services (USCIS has issued new guidance to define the extent of an employer’s financial obligation in employment-based green card applications where the sponsored employee has changed...more
Investors are targeting AI developers and buying proprietary data sets to build new AI businesses. Here we explain how to manage risk in this fast-evolving space. When MIT named generative AI as one of its breakthrough...more
Key Points - - While interest rates, uncertainty and other factors negatively impacted deal activity in 2023, we saw a steady flow of carve-outs, spin-offs and joint ventures that offered creative ways to achieve strategic...more
M&A, debt finance and investment fund actors seek alternative routes to dealmaking in the face of a dim macroeconomic outlook - The past two years have witnessed significant geopolitical fracturing and macroeconomic...more
Welcome to our year-end edition of M&A Insights, where we preview some of the themes we expect to shape deal-making over the next 12 months. Continued volatility in the debt markets has resulted in another subdued year for...more
Despite a recent slowdown in broader mergers and acquisitions (M&A) activity, and specifically in private equity deals, the independent sponsor market has continued to expand and mature over the past several years. With the...more
Decisive inorganic growth decisions by London Stock Exchange, Deutsche Börse, Nasdaq and Euronext set a furious pace for European trading venue M&A activity....more
On August 3, 2022, the U.S. Bankruptcy Court for the District of Delaware partially dismissed fraudulent transfer claims asserted by the chapter 7 trustee for Bayou Steel against Black Diamond Capital Management (and...more
Market Overview - Q2 2022 - Downturn in Credit Markets: In its continued effort to combat rising inflation, the Federal Reserve Bank raised its benchmark interest rate in each of March, May, June and July of this year by...more
European SPAC IPO issuance has slowed materially over the first six months of 2022. EU SPACs raised US$1.78 billion in H1 2022, down from the US$5.11 billion secured over the same period last year. EU de-SPAC deal value...more
The fashion industry has certainly seen its fair share of change over the last year given consumer trends, geopolitical & public health issues, innovation in technology and legal developments and we don’t anticipate that...more
Innovation, regulation and evolution in the health care industry have all spawned complex business arrangements that span financial, operational and professional services issues. As with any other sophisticated business,...more
The summer vacation period through August saw no new IPOs from European SPAC sponsors, but the market for De-SPAC deals involving European targets remained active. European assets continue to attract interest from US SPAC...more
A recent IPO by InterPrivate IV Infratech Partners, a digital infrastructure-focused special purpose acquisition company, or SPAC, raised $250 million. Its impressive fundraising and management team, led by former CyrusOne...more
In the spring of 2021, one of the hottest markets—the market for special purpose acquisition companies, or SPACs—has “screeched to a halt,” according to CNN. As the SPAC market grew red hot in the past six months, it seemed...more
In the face of volatile markets and a global pandemic, an old capital markets vehicle has been taking the markets by storm: special purpose acquisition companies (SPACs). Although SPACs have been around for many years, the...more
Bank M&A across Europe comes to a boil—the COVID-19 pandemic has hastened the confluence of conducive conditions for mega domestic mergers. Spain and the Balkans lead the charge, with Italy, Germany, France, Poland and the UK...more
We began developing this report before COVID-19. Then, esports was a burgeoning sector with exponential year-over-year growth. The commercial landscape was ripe with opportunities for all stakeholders in the esports...more
In this presentation, we will discuss SPACs and recent transactions. The presenters will discuss considerations for target companies and their equity owners and management teams involved in M&A transactions with SPACs, and...more
Financial Institutions M&A sector trends: Consumer finance — H1 2020 and outlook for H2 2020. A time of temperance as COVID-19 covenant breach forbearance, payment holiday and repossession deferral relief measures take their...more
Buyout firms must beware the unique legal, regulatory, and commercial issues that can complicate sports transactions and impact returns. Private equity interest in sports assets has grown over the last few years, with...more
In response to changes in the marketplace, it’s possible that borrowers will employ debt buybacks as a way to ease their overall net leverage levels (either as a means to cure financial covenant defaults resulting from the...more
Financial institutions M&A sector trends: consumer finance — H2 2019 and outlook for 2020 - Financial sponsors see opportunities to back new entrants targeting under-serviced customer segments, including gig economy...more