Completed distressed debt and bankruptcy restructuring activity totalled US$118.9 billion during the first nine months of 2014, a 7.5% increase from the same period last year.
Though the first nine months of 2014 saw an increase in completed activity, the number of completed deals decreased from 381 to 187 transactions. The two largest completed transactions of the first nine months of 2014 were the US$10 billion Dubai Group debt restructuring and the United Company Rusal PLC debt restructuring also restructuring existing debt work US$10 billion.
Blackstone Group LP took the top place in global completed and announced restructuring rankings
US completed deal activity totalled US$31.5 billion during the first nine months of 2014, a 22% decrease compared to the same period last year. There were 67 restructuring transactions completed in the first nine months of 2014, 37 fewer deals than the previous year. Companies in the Energy & Power sector accounted for 28% of the US debt restructuring market, followed by Consumer Products & Services accounting for 20% of the market.
EMEA completed distressed debt restructuring deal volume totalled US$79 billion in the first nine months of 2014, marking a 43.4% increase in activity compared to the first nine months of 2013. Industrials led all sectors in EMEA, with 23% of total completed EMEA distressed debt restructuring deal volume.
Asia Pacific (including Japan) completed deal volumes during the first nine months of 2014 reached US$6.2 billion, down 72.3% from the same period last year. Telecommunications was the most active sector, capturing 46% of the market, followed by Industrials and Material, both tied for second each accounting for 17% of the market.