In total, 337 deals totaling $408.3 billion were announced in the first nine months – 284 fewer deals compared to the same period in 2011. Activity was led by Greece's US$263.1 billion debt exchange transaction, which is the largest Restructuring deal on record.
US deal activity totalled US$37.2 billion during the first nine months of 2012, a 31.4% decrease compared to the same period last year. There were 107 Restructuring transactions announced in the first three quarters of 2012, 96 fewer than the previous year. The Financials industry accounted for 36% of the US debt restructuring market.
EMEA distressed debt restructuring deal volume totalled US$311.1 billion in the first three quarters of 2012, with Governments the leading sector with 88% of the volume due to the Greece restructuring. Excluding deals involving sovereign debt, activity was down by 48.4%.
Asia Pacific (including Japan) deal volumes during the first nine months of 2012 reached US$9 billion, up 36.4% from the same period last year. Telecoms was the most active sector, capturing 51% of the market, followed by Industrials and High Tech, with 28% and 7% market share, respectively.
Worldwide Completed Restructuring (DR1) Jan 1 - Sep 30