Read the full report: U.S. Dividend Recapitalizations: May 2017
May 2017 Industry Highlights
- Total deal volume was $17.8 billion in Q1 2017 versus $20.1 billion in Q4 2016 and $0.2 billion in the prior year period.
- There were a total of 20 deals in the ‘B’ rating category in Q1 2017; The Services & Leasing industry represented 25 percent of those deals.
- There were a total of 25 deals in Q1 2017 with 80 percent of those deals within the ‘B’ rating category versus a total of 36 deals in Q4 2016 with 78 percent of those deals within the ‘B’ rating category.
- In Q1 2017, the Services & Lodging industry accounted for 25 percent or $4.4 billion of total deal volume while the Retail industry accounted for 15 percent or $2.7 billion and the Chemicals industry accounted for 14 percent or $2.5 billion.
- Average leverage for U.S. dividend recapitalizations ranged from 4.8x in Q4 2016 to 6.2x in Q1 2017.