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What were the highs and lows of 2016? We look at key trends globally across ECM, DCM, Loans, M&A, and IB Strategy, according to Dealogic figures. For more information or a full copy of our Full Year 2016 Reviews, please reach out to our teams below.

Global ECM Highlights

Global ECM volume of $724.2bn in 2016 marked the lowest annual total since 2012, with volume dropping 21% from 2015 ($913.1bn). IPOs ($135.6bn) were at the lowest level since 2012 ($124.3bn) and down 30% year-on-year.

Global DCM Highlights

Global DCM issuance climbed 9% to $6.69tr in 2016, compared to 2015 volume of $6.13tr, and beating the previous record high of $6.61tr in 2006. It was also a record-breaking year for internationally marketed DCM ($4.23tr), which surpassed the previous high set in 2014 ($4.15tr), and was up 6% compared to 2015. Green bond issuance doubled from the previous record in 2015, with $78.9bn via 168 deals.

Global Loans Highlights

Global syndicated loan volume totaled $4.29tr in 2016, the lowest level since 2012 ($3.48tr) and down 5% on $4.51tr borrowed in 2015. Acquisition-related loan volume of $1.11tr was up 4% year-on-year, the third consecutive year-on-year increase since 2013 ($687.8bn). Technology topped the global loan sector ranking with a 12% market share, followed by Utility & Energy (10%) and Telecom (10%), respectively.

Global M&A Highlights

After three consecutive year-on-year increases, 2016 global M&A of $3.84tr dropped from the 2015 annual record high of $4.66tr. While volume fell 18% year-on-year, M&A revenue was down only 2%. Cross-border M&A was down 3% globally year-on-year, but China outbound volume hit a record high ($225.4bn) as did US inbound M&A ($486.3bn). 4Q global M&A ($1.27tr) hit the $1tr mark in the first week of December, the third largest quarter on record following 2Q 2007 ($1.51tr) and 4Q 2015 ($1.39tr).

Global Investment Banking Strategy Highlights

2016 started at the slowest pace in six years for global investment banking (IB), with 1Q revenue of $16.3bn down 18% to the lowest 1Q total since 2010 ($15.4bn). This decline eased through the year, with 3Q ($19.8bn) recovering to the biggest quarter since 2Q 2015 ($21.8bn) and 4Q 2016 revenue of $18.1bn increasing from $17.8bn in 4Q 2015.

 

For more information or a full copy of our Full Year 2016 Reviews, please reach out to our teams below:

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