Completed Distressed Debt and Bankruptcy Restructuring activity totalled US$422.6 billion over the course of 2012, a 102.5% increase compared to the US$208.6 billion accrued during 2011.
In total, 430 deals totaling $470.8 billion were announced in 2012 – 344 fewer deals compared to the same period in 2011. Activity was led by Greece's US$263.1 billion debt exchange transaction, the largest Restructuring deal on record.
US deal activity totalled US$61.6 billion throughout 2012, a 19.2% decrease compared to 2011 totals. There were 129 announced US Restructuring transactions during 2012, 107 fewer than the previous year. The Media & Entertainment industry accounted for 34% of the US debt restructuring market.
Throughout 2012, EMEA distressed debt restructuring deal volume totalled US$342 billion, with the Government sector dominating the marketplace with 81% of the volume due to the Greece restructuring. Excluding deals involving sovereign debt, activity was down by 29.5% from 2012.
Asia Pacific (including Japan) deal volumes during 2012 reached US$10.2 billion, down 25% from the total value reached in 2011. Telecom was the most active sector, capturing 48% of the market, followed by Industrials and Materials, with 30% and 7% market shares, respectively.
Worldwide Completed Restructuring (DR1), Jan 1 - Dec 31 2012