Completed distressed debt and bankruptcy restructuring activity totaled US$346.5 billion during 2016, a 121.4% increase from last year.
The number of completed deals also saw an increase, with 336 deals during 2016 compared to 271 completed deals during 2015. The two largest completed transactions during 2016 were the US$40.3 billion debt restructuring of Energy Future Holdings Corp and the US$33 billion spinoff of Energy Future Holdings Corp competitive businesses to its shareholders.
US completed deal activity totaled US$183.9 billion during 2016, a 347.2% increase compared to 2015. There were 124 restructuring transactions completed in the US during the period, 47 more deals than completed in 2015. The Energy & Power sector accounted for 63% of the US debt restructuring market. The Media & Entertainment sector followed in second, with a 19% share.
EMEA completed distressed debt restructuring deal volume totaled US$89.5 billion during 2016, marking a 11.1% decrease in activity compared to last year. Financials led all sectors in EMEA, with 40% of total completed EMEA distressed debt restructuring deal volume.
Asia Pacific (including Japan) completed deal volumes during 2016 reached US$17.4 billion from 55 deals, up 111.1% from last year. Real Estate was by far the most active sector, capturing 62% of the market.