Thomson Reuters 2013 global distressed debt & bankruptcy restructuring review

Thomson Reuters Logo

Completed Distressed Debt and Bankruptcy Restructuring activity totalled US$172.7 billion in 2013, a 61.5% decline from last year.

However, in terms of volume, the number of completed deals increased from 323 to 468 transactions. The largest completed transaction of the year was the US$21.7 billion AMR restructuring.

Lazard took the top place in both global completed and announced restructuring rankings.

US deal activity totalled US$90.4 billion in 2013, a 29.4% increase compared to 2012. There were 129 restructuring transactions completed, 42 more than the previous year. Companies in the Industrials sector accounted for 35% of the US debt restructuring market.

EMEA distressed debt restructuring deal volume totalled US$65.8 billion in 2013, marking an 81.9% decrease in activity compared to 2012. The large decrease in activity is due to 2012's US$263.1 billion restructuring of Greece's sovereign debt. Industrials led all sectors in EMEA, with 27% of total completed EMEA distressed debt restructuring deal volume.

Asia Pacific (including Japan) deal volumes in 2013 reached US$24.1 billion, up 82.6% from last year. Energy & Power was the most active sector, capturing 44% of the market, followed by High Technology and Media & Entertainment, with 22% and 14% market share, respectively.

Source: Thomson Reuters

Register for Financial Markets News Alerts