Distressed debt & bankruptcy restructuring review Q1 2017: Thomson Reuters

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Completed distressed debt and bankruptcy restructuring activity totaled US$70.1 billion during the first quarter of 2017, a 14.4% increase from the same period last year.

The number of completed deals also saw an increase, with 85 deals during the first quarter of 2017 compared to 68 completed deals during the first quarter of 2016. The two largest completed transactions during the first quarter of 2017 were the US$9.9 billion debt restructuring of Abengoa SA and the US$8.3 billion debt restructuring of LINN Energy LLC.

US completed deal activity totaled US$31.9 billion during the first quarter of 2017, a 180.5% increase compared to the first quarter of 2016. There were 32 restructuring transactions completed in the US during the period, 7 more deals than completed during the first quarter of 2016. The Energy & Power sector accounted for 81% of the US debt restructuring market. The Materials sector followed in second, with a 7% share.

EMEA completed distressed debt restructuring deal volume totaled US$33 billion during the first quarter of 2017, a 29.2% decrease in activity compared to the same period last year. The Energy & Power sector accounted for 51% of the EMEA debt restructuring market. Industrials followed in second with a 20% share of the market, with Financials following closely in third capturing a 19% share.

Asia Pacific (including Japan) completed deal volumes during the first quarter of 2017 reached US$2.2 billion from 14 deals, up slightly over 100% from the same period last year. The region saw 14 completed deals during the first quarter of the year, 1 fewer than the first quarter of 2016.

WW Announced Restructuring (DR1a) Q1 2017: Thomson Reuters

Source: Thomson Reuters

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