The 2017 Debtwire European Distressed Debt Outlook report surveyed 100 distressed investors and 30 private equity funds to establish the outlook for 2017. It predicts that European restructurings will hit their next peak in 2017, with respondents citing interest rate rises (22%), geopolitical conflict (21%) and Brexit (16%) as the most important macroeconomic factors driving this trend. The report features commentary from members of Orrick’s Restructuring, Finance, Corporate and Energy & Infrastructure teams in the United States and Europe.
Stephen Phillips of Orrick’s London Restructuring team spoke at the report launch event in London, which discussed the report’s findings. According to Stephen, “After years of tentative steps we think that 2017 will be a year of restructuring, equity raisings, forced consolidations, and NPL sales/securitizations for the Italian banking system.” He added, “Interestingly the market survey points to Belgium and a number of other countries as the center of possible bank resolution activity.”
Orrick's European Restructuring team sponsored the report for the third consecutive year, in conjunction with independent investment bank Greenhill. To read the full report, please click here.
For a video of Stephen’s comments at the event, please click here.