This week in M&A and debt, via Thomson Reuters (download full report below):
M&A Hit a Five-Month High
Global announced M&A in November totaled $234 billion and marks the second busiest monthly level of activity of the last twelve months after June 2009 ($275 billion). There were ten transactions in excess of $1 billion announced this week, including the $1.7 billion takeover of UK based JPMorgan Cazenove by JPMorgan Chase & Co.
Global Corporate Bond Issuance Rose
The top two bonds issued this week are both investment grade corporate debt issues which are both above the $1 billion mark. UNEDIC and CDP Financials with $5.9 billion and $4.9 billion.
Global corporate bonds reached $2.4 trillion so far this year up 11% when compared to the same period last year. Corporate bond issuance also makes up 46% of total bond activity this year.
Fifth Largest IPO of Year
In this week’s second largest ECM transaction Sands China, the Macau operations of US based Las Vegas Sands raised $2.5 billion on the Hong Kong stock exchange. It is the 5th largest IPO of the year and the second of its kind in a couple of months after Wynn Macau, a subsidiary of US based Wynn Resorts raised $1.9 billion in September. Follow On activity is up 35% when compared to the same period last year with $528 billion and it also accounts for 75% of total ECM activity so far this year.