Thomson Reuters Releases Third Quarter 2009 Global Investment Banking
Reviews
(Thomson Reuters ONE) - M&A down 38% YTD but record corporate debt and equity offerings brighten outlookLondon/New York, 2 October 2009 - Thomson Reuters has released thefinal third quarter 2009 global reviews for mergers & acquisitionsand capital markets activity.Announced global M&A volume stands at $1.46 trillion for the year todate, with $461.1 billion in deals announced for the quarter.Dealmaking is still down a substantial 38% versus third quarter 2008and is the lowest third quarter figure since 2004. Financial sponsoractivity meanwhile has reached a 4-quarter high of $37.9 billion forthis quarter, a marked increase over second quarter but down 67% on afull year basis. Financial sponsor activity has comprised just 4.9%of overall M&A activity so far in 2009, the lowest share since 2000.In the global equity markets follow-on offerings have remainedstrong, with year-to-date offerings totaling $439 billion, up 34%versus the same period in 2008. Global quarterly IPO volume reached$34.4 billion, its highest level in five quarters, with Asian IPOactivity accounting for 84% of the quarterly total from 116 offeringsgenerating proceeds of $29.1 billion. The global equity pipeline isfilled with $191.5 billion of planned IPO and follow-on offerings.In the global debt markets, continued investor appetite for corporatedebt has driven year-to-date volume of investment-grade bonds(excluding financial issuers) to $994.2 billion, marking the busiestfirst nine months of the year ever and already exceeding any previousfull year volumes. High yield bond issuance is still very active,with $47.7 billion in global issues this quarter. The year-to-datetotal now stands at $109.7 billion, nearly triple the 2008 figure.Meanwhile, government-guarantee schemes for qualifying firms' debthave helped raise $807.1 billion in 15 countries since programs wereintroduced in October 2008.Issuance of syndicated loans remains anemic, with $261.9 billion ofloans issued this quarter, 61% lower than third quarter 2008.Year-to-date global volume is $1.24 trillion, the slowest first ninemonths of the year since 2000."For those seeking green shoots the evidence is somewhat patchy,"said Neil Masterson, Global Managing Director of Investment Bankingat Thomson Reuters. "Despite low M&A and syndicated loan volumes,bond markets remain very strong with record issuance in some assetclasses. Follow on offerings continue to drive equity capital marketsand there are signs of resurgence in the IPO market. M&A deal valuesand fees have contracted significantly when compared to the sameperiod last year, although the decline in the number of dealsannounced is more modest at 11%, implying that bankers are active yetunable to close large mandates due to a lack of market confidence anddifficulty financing large transactions."Global investment banking fees are down over the previous year withan estimated $44.5 billion earned across all asset classes, comparedto $56.1 billion in fees for the first nine months of 2009 (a 21%decline). Fees from debt and equity capital markets activityaccounted for 63% of the total pool during the first nine months of2009 compared to 39% last year.The full reviews are available at the new Thomson Reuters DealsIntelligence website, which provides instant access to market insightand data powered by Thomson Reuters Deals and Private Equitycontent. In additional to league tables, Thomson Reuters weeklyScorecards, monthly Snapshots, ad-hoc Daily Deals Insights and timelyresearch reports will be available here. For immediate accessplease register.Thomson ReutersThomson Reuters is the world's leading source of intelligentinformation for businesses and professionals. We combine industryexpertise with innovative technology to deliver critical informationto leading decision makers in the financial, legal, tax andaccounting, healthcare and science and media markets, powered by theworld's most trusted news organization. With headquarters in NewYork and major operations in London and Eagan, Minnesota, ThomsonReuters employs more than 50,000 people and operates in over 100countries. Thomson Reuters shares are listed on the Toronto StockExchange and New York Stock Exchange. For more information, go towww.thomsonreuters.com.CONTACTClare Arber Daniel BillingsPublic Relations, EMEA Public Relations, USThomson Reuters Thomson Reuters+44 (0) 20 7542 6256 +1 (646) 223 5985clare.arber(at)thomsonreuters.com daniel.billings(at)thomsonreuters.comhttp://hugin.info/142273/R/1345409/322963.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 02.10.2009 - 11:30 Uhr
Sprache: Deutsch
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