FY 2020 Investment Banking, M&A, Capital Markets Review

“Worldwide M&A activity totaled US$3.6 trillion during FY 2020, down 5% compared to the same period last year and slowest annual period for deal making since 2018 (US$3.2 trillion). Bolstered by two consecutive quarters to surpass US$1 trillion, second half 2020 deal making activity totaled US$2.3 trillion, a 90% increase compared to the first half of the year and marks the strongest second half for deal making since records began in 1980. By number of deals, worldwide deal making fell 3% compared to year ago levels, a four-year low,’ comments, Matt Toole, Director of Deals Intelligence, Refinitiv

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The below Refinitiv Deals Intelligence Full Year 2002 reports analyze global M&A, Capital Markets, Syndicated Loans and Municipals activity. Click each link to view full report, layered with data-driven commentary and rich visuals. Top highlights below.

Full Year 2020 Global Investment Banking, M&A, Capital Markets, Syndicated Loans, Municipals Reviews

Global Investment Banking Review (full report here)
- Global Investment Banking Fees Set All-Time Record, Up 18% from 2019
- Record Year for ECM & DCM Fees; M&A Fees Down 4%; Loans Fall 8%
- JP Morgan Maintains the Top Spot for Global Investment Banking Fees
M&A Financial Advisory Review
- Global M&A (full report here)
  - Worldwide Deal Making Falls 5%; Record H2 Tops US$2 Trillion
  - US Target M&A Nearly Triples in H2, Down 21% During Full Year 2020
  - Deals Between US$5-US$10 Billion Increase 36%; Mega Deals Fall 21%
- Emerging Markets M&A (full report here)
  - Emerging Markets Deal Making Falls 5%; Second Half Rebounds 46%
  - China, India & Russia Drive More Than Two-Thirds of Emerging Markets M&A
  - Mega Deals Account for 24% of Announced Emerging Markets Value
Global Equity Capital Markets Review (full report here)
- Global ECM Activity Tops US$1 Trillion
- Global IPOs Up 25% During 2020 to Six-Year High
- Over 4,000 Secondary Offerings Come to Market in 2020; All-Time Record

US SPAC Market Insights 2020 (full report here)

Global Debt Capital Markets Review (full report here)
- Global Debt Capital Markets Activity Surpasses US$10.0 Trillion for First Time
- Investment Grade Corporate Debt Markets Break All-Time Records
- Global High Yield Debt Pushes Past US$500 Billion
Global Syndicated Loans Review (full report here)
- Global Syndicated Lending Declines 24%; Slowest Year for Loans Since 2012
- Acquisition-related Financing Falls 35%
- Media, Energy & Healthcare Lead Declining Industries; Telecom Up 80%
US Municipals Public Finance Review (full report here)
- Municipal Bond Issuance up 11%
- Green Bonds Increase 29%, To Record $16.4 Billion
- Taxable Municipal Bonds Double; Highest Year Since 2010