International Debt Finance Intelligence Report 2025
Financing through changeWhat did 2024 deliver?
Mixed results. The M&A and private equity market faced challenges due to ongoing geopolitical instability around the world, plus 2024 was "the year of the election". Add in the higher for longer inflationary pressures and interest rates, and perhaps it was inevitable that market participants would be cautious.
Generally, while M&A activity remained subdued in the first three quarters of 2024, we saw somewhat of a year-end frenzy in the final quarter. The borrowing/lending market was overall positive, but selective.
As we moved into 2025, many commentators believed that with the elections in the rear-view mirror and hopes of inflation and interest rates reducing, the indicators pointed towards a pick-up in M&A deal activity. That’s especially the case given the amount of capital raised and ready to deploy. That said, at the time of writing, it’s fair to say that global markets have experienced some turbulence. If this blows over, and confidence returns, then that capital can be put to use.
- Market evolution – a look back at 2024
- Deal economics
- Understanding delayed draw term loans
- Five key trends in mid-market sustainability-linked loans
- Regions under the spotlight: Norway, Sweden, South Africa and Australia
- Convergence in credit? Banks and private credit compared
- Innovative financing solutions: Holdco PIK financings
- Trading out: Transferability provisions in focus
- What lies ahead?
