Insight

LevFin wallet share holds tight

Growing LevFin wallet Global investment banking (IB) revenue has reached $49.5bn in 2018 YTD, down by 5% from 2017 YTD. While a busy M&A market has generated a steady source of return for banks so far this year, though down slightly to $15.6bn from $16.1bn, the leveraged finance (LevFin) market accounts for 17.3% the total […]

Insight

Auto industry in the shadow of tariffs

Driving amid the waves of war Although H1 2018 marked a 5-year high for corporate debt issuance* in the auto/truck industry ($136.9bn), ongoing talks of potential tariffs on vehicles and imported parts together with proposed countermeasures, are setting up an uncertain time for the sector. Companies that mainly rely on imports could face the challenge […]

Insight

Trade war with China? Not according to US ECM

Strong demand for Chinese stocks Despite the fear of trade tensions heating up between the US and China, the US ECM market continues to show strong appetite for Chinese IPOs. So far this year, Chinese IPOs in the US have raised a total of $5.9bn via 17 deals, which is already the second highest full-year […]

Insight

Sponsors hungry again

Private equity eating into food & beverage industry The food & beverage sector has witnessed an increase in sponsor activity this year, after a relatively muted period since H1 2015 which was boosted by the $62.6bn HJ Heinz/Kraft Foods Group mega deal. Sponsor-related deal volume in H1 2018 jumped to $40.2bn and accounted for a […]

Insight

Jumbo LBOs drive European institutional loans

Jumbo volume soars amid overall drop in levfin loans Despite a 30% year-on-year decline in European institutional* leveraged loans volume in 2018 YTD, jumbo LBO deals have climbed to a record-high—reaching $26.3bn so far this year. Jumbo deals have also boosted the average deal size for European LBOs, which have ballooned by 78% year-on-year to […]

Insight

H1 2018 Loans Highlights

Global volume takes off amid fall in activity Global syndicated loans volume grew by 11% year-on-year and stand at $2.75tr for the first half of 2018, even with a crumbling activity level (down by 575 deals year-on-year). While refinancing and amendments, which account for 58.4% of H1 volume, are unsurprisingly dominant, the growth of new […]

Insight

H1 2018 M&A Highlights

Global Volume Rampant Global M&A during H1 2018 has reached its highest levels since H1 2007, with volume totaling $2.49tr via 17,611 deals. The surge in volume represents an increase of 57% in comparison to the same period of 2017, largely due to a sharp rise in mega deals. Such deals over $10bn have dominated […]

Insight

H1 2018 ECM Highlights

Record issuance on US convertibles One of the highlights for global ECM in H1 2018 is the rapid expansion of US convertible bonds. In the first half, US companies issued a total of $28.6bn via 79 such deals—the highest half-year volume since H1 2008 ($51.5bn via 75 deals). This increase in issuance validated the expected […]

Insight

H1 2018 DCM Highlights

DCM issuance slows down in Q2 Global bond markets—initially spurred by one of the strongest first quarters on record ($1.95tr of volume issued from January to March 2018)—started to show some signs of exhaustion, with issuance in Q2 totaling $1.68tr from 5,110 transactions. This is the lowest second-quarter volume in the past 3 years, and […]

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Technical Client Manager

The Connect group works the breadth of the investment banking and buyside spaces (Equity Capital Markets, Sales & Trading, Research, Compliance, Portfolio Managers, Technology teams).