2014 Distressed debt & bankruptcy restructuring review

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Completed distressed debt and bankruptcy restructuring activity totaled US$204.4 billion during 2014, a 12% increase from last year.

Though 2014 saw an increase in completed activity, the number of completed deals decreased from 489 to 304 transactions. The two largest completed transactions in 2014 were the debt restructuring of the City of Detroit and the US$10 billion Dubai Group debt restructuring.

US completed deal activity totaled US$64.1 billion during 2014, a 29% decrease compared to 2013. There were 88 restructuring transactions completed in 2014, 47 fewer deals than the previous year. The Government & Agencies sector accounted for 29% of the US debt restructuring market, followed by Energy & Power accounting for 18% of the market.

EMEA completed distressed debt restructuring deal volume totaled US$115.4 billion in 2014, marking a 55% increase in activity compared to 2013. Industrials led all sectors in EMEA, with 26% of total completed EMEA distressed debt restructuring deal volume.

Asia Pacific (including Japan) completed deal volumes during full year 2014 reached US$18.8 billion, down 22% from the same period last year. Industrials was the most active sector, capturing 28% of the market, followed by Materials and Telecommunications, accounting for 23% and 21% of the market respectively.

Worldwide Completed Restructuring 2014 (DR1)

Source: Thomson Reuters

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