China Target M&A activity totals $91.1 billion, up 27% compared to YTD 2015
Media & Entertainment M&A hits $34.6 billion this year, down 6% compared to 2015
United States ECM activity totals $30.1 billion, down 57% compared to a year ago
Healthcare ECM totals $9.9 billion for YTD 2016, down 64% from 2015
Global High Yield Debt hits $29.3 billion, down 73% compared to last year
Financials DCM down 6% compared to 2015 with $666.4 billion raised this year
European Investment Grade Corporate Debt Up 4% Compared to Year-to-Date 2015
Multi-billion dollar offerings from Deutsche Telekom, Credit Agricole Home Loan, Rabobank and ING among others pushed year-to-date investment grade corporate debt issuers to $269.8 billion so far this year, a 4% increase compared to a year ago and the strongest year-to-date period in two years. Issuers in the financial sector account for 81% of year-to-date activity, up from 71% a year ago. Telecom, industrials and energy & power offerings make up 14% of issuance this year, down from 19% last year at this time. Belgium, United Kingdom and Germany account for 54% of corporate debt offerings from European companies so far in 2016, up from 38% during year-to-date 2015. HSBC holds the top spot for European corporate debt underwriting with 8.4% market share, followed by Barclays (6.4%) and Societe General (6.1%).
Oil & Gas Corporate Debt Tumbles 57% to 3-Year Low
Anadarko Petroleum’s $3.0 billion corporate debt offerings this week brings global corporate debt issuance in the oil & gas sector to $25.5 billion so far this year, a 57% decline compared to year-to-date 2015 and the slowest year-to-date period for issuance in the sector since 2013. The United States, Mexico and China account for 80% of overall issuance this year, up from 51% a year ago. Bank of America Merrill Lynch ranks as the top underwriter of oil & gas debt offerings this year with 10.5% share, up from 4.8% last year.