Business
Thomson Reuters Releases Third Quarter 2009 Glo...
Thomson Reuters Releases Third Quarter 2009 Glo....
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[{"type":"text","content":"\n \n\n\n\n M&A down 38% YTD but record corporate debt and equity offerings\n brighten outlook\n\nLondon/New York, 2 October 2009 - Thomson Reuters has released the\nfinal third quarter 2009 global reviews for mergers & acquisitions\nand capital markets activity.\n\nAnnounced global M&A volume stands at $1.46 trillion for the year to\ndate, with $461.1 billion in deals announced for the quarter.\nDealmaking is still down a substantial 38% versus third quarter 2008\nand is the lowest third quarter figure since 2004. Financial sponsor\nactivity meanwhile has reached a 4-quarter high of $37.9 billion for\nthis quarter, a marked increase over second quarter but down 67% on a\nfull year basis. Financial sponsor activity has comprised just 4.9%\nof overall M&A activity so far in 2009, the lowest share since 2000.\n\nIn the global equity markets follow-on offerings have remained\nstrong, with year-to-date offerings totaling $439 billion, up 34%\nversus the same period in 2008. Global quarterly IPO volume reached\n$34.4 billion, its highest level in five quarters, with Asian IPO\nactivity accounting for 84% of the quarterly total from 116 offerings\ngenerating proceeds of $29.1 billion. The global equity pipeline is\nfilled with $191.5 billion of planned IPO and follow-on offerings.\n\nIn the global debt markets, continued investor appetite for corporate\ndebt has driven year-to-date volume of investment-grade bonds\n(excluding financial issuers) to $994.2 billion, marking the busiest\nfirst nine months of the year ever and already exceeding any previous\nfull year volumes. High yield bond issuance is still very active,\nwith $47.7 billion in global issues this quarter. The year-to-date\ntotal now stands at $109.7 billion, nearly triple the 2008 figure.\nMeanwhile, government-guarantee schemes for qualifying firms' debt\nhave helped raise $807.1 billion in 15 countries since programs were\nintroduced in October 2008.\n\nIssuance of syndicated loans remains anemic, with $261.9 billion of\nloans issued this quarter, 61% lower than third quarter 2008.\nYear-to-date global volume is $1.24 trillion, the slowest first nine\nmonths of the year since 2000.\n\n\"For those seeking green shoots the evidence is somewhat patchy,\"\nsaid Neil Masterson, Global Managing Director of Investment Banking\nat Thomson Reuters. \"Despite low ...