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  1. Analysis
June 7, 2022

Debt offerings dropped in clinical trials in H2 2021

Debt offerings have seen a decrease of 37.5% from H2 2020 to H2 2021, an analysis of GlobalData's deals database reveals.

By Data Journalism Team

In the second half of 2021 the number of debt offerings decreased significantly by 37.5% from the same period in 2020.

But this actually marks an acceleration in growth from the 67.7% decrease in deals that occurred in H1 2021 relative to the same period a year earlier.

During second half of 2021, debt offerings accounted for 5.5% of all deals taking place in the sector. This represents a decrease from the figure of 7% in second half of 2020.

GlobalData's deals database is a comprehensive repository that looks at mergers, acquisitions, venture financing, equity offerings, asset transactions, partnerships and debt offerings taking place daily between thousands of companies across the world.

The database details key deal information, such as deal summary, deal rationale, deal financials, parties involved, advisors and deal payment modes.

By tracking the proportion of various types of deals in each sector we can gauge which sectors are seeing growth and where others are struggling.

The highest value debt offering announced in 2021 (where the deal value was known), is the funds to be raised by Takeda Pharma in a public offering of 0.400% senior bonds due in 2031.

The debt offering is set to be worth $2242.5 million.

The database states that the rationale behind this deal was as follows: "Takeda intends to use the proceeds primarily to prepay borrowings of USD1.7 billion that remain outstanding on a term loan incurred in connection with the acquisition of Shire plc in 2019 and which has an original maturity date of December 2025. The remaining bond issuance proceeds, will be used for the redemption of bonds or be deployed towards the working capital needs."

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