It has been a buoyant May according to IFLR1000's selection of deal announcements, with a host of deals across M&A and capital markets—especially on the debt side—in a range of sectors. In the past month there has been diverse activity with government and public policy, banking, and financial services entering the fray, and landmark deals in the transport industry.

As Hong Kong's IPO market continues to struggle, it has been displaced by US IPO activity that continues to rise with 25 companies going public in the first quarter, compared to last year's eight. More recently, Gardner Denver Holdings—an industrial machinery maker—undertook a $826 million IPO on the NYSE offering 47,495,000 shares of common stock; and across the pond in the UK, nationalised lender Allied Irish Banks (AIB) is undertaking its IPO on the Irish and London stock exchanges (LSE) in a deal which could raise as much as €3 billion—the biggest on the LSE since Glencore's in 2011.

M&A deal values have levelled out this May at well over $50 billion at the top end of the market, with Cleary Gottlieb Steen & Hamilton averaging close to $6 billion per deal. Italian firm Gianni Origoni Grippo Cappelli & Partners (GOGCP) made a notable entry in third place, no doubt propelled by its part in Atlantia's €16.3 billion acquisition of Abertis Infraestructuras—the largest Spanish M&A deal in 10 years making the merged company the largest operator of toll roads. With 28 deals last month, Latham & Watkins upended Kirkland & Ellis at the top of the deal volume table for only the second time in the last 11 months.

Elsewhere, there has been a spate of debt capital markets deals in the government and public policy sector as Maldives issued its debut $200 million sovereign bond, which was its first ever US dollar bond issue and the first time that a Chinese investment bank, BoCom International, acted as sole lead bookrunner of an international sovereign bond; also Sri Lanka issued a $1.5 billion sovereign bond which was its 11th US dollar issue since 2007; and the province of Buenos Aires issued ARS15.1 billion ($941 million) notes due 2022, which is Buenos Aires' first issue of Argentina-peso denominated bonds governed by Argentine law that are sold in the international capital markets.  

Moreover, Autopistas del Sol, which operates the Ruta 27 toll road concession, issued $351 million in international and local project bonds, which was the first offering of project bonds out of a high-yield grade in a Central American country; Neptune Oil & Gas acquired a majority stake in Engie's exploration and production business for $3.9 billion, which was the latest in a string of North Sea deals completed in the past few months as a consequence of stress in the oil service sector; and Qualcomm issued an aggregate of $11 billion in notes to fund a portion of the purchase price of its planned $38 billion acquisition of NXP Semiconductors.

If you have any public deal announcements you would like us to take into account for our reports please send them to -

The EMEA launch of IFLR1000 Deal Data—a fully searchable database whose BETA version went live in May last year—has arrived with other regions coming soon. This database of significant deal records from over 120 countries will include searchable and filterable data on the most significant legal transactions from around the globe, and all of our featured monthly deals will be included along with many more garnered from the IFLR1000's own research, press releases and other deal announcements.

Below you can access our top picks for May 2017 linked to their record in the new deals database.

Adam Majeed - Asia-Editor


Mergermarket table 1 - Law firms by global M&A deal value


Mergermarket table 2 - Law firms by global M&A deal volume


 Deal 1: Allied Irish Banks ISE/LSE IPO


Jurisdictions: Ireland, United Kingdom

Deal type: IPO

Industry sectors: Banking

Deal 2: Apax Partners acquisition of Safetykleen Europe

Jurisdictions: United Kingdom

Deal type: Private acquisition

Industry sectors: Industrials and manufacturing

Deal 3: Atlantia €16.3 billion acquisition of Abertis Infraestructuras

Jurisdictions: Italy, Spain

Deal type: Public acquisition

Industry sectors: Transport

Deal 4: Autopistas del Sol $350.75 million project bond issue

Jurisdictions: Costa Rica

Deal type: High-yield bond/note issue

Industry sectors: Transport

Deal 5: AXA Investment Managers €1 billion acquisition of Gramercy Property Europe logistics portfolio

Jurisdictions: France, Germany, Luxembourg, Netherlands, United Kingdom, Poland

Deal type: Private acquisition

Industry sectors: Real estate, Logistics

Deal 6: Democratic Socialist Republic of Sri Lanka $1.5 billion 6.2% sovereign bond issue 

Jurisdictions: Sri Lanka

Deal type: High-yield bond/note issue

Industry sectors: Government and public policy

Deal 7: Gardner Denver Holdings NYSE IPO

Jurisdictions: United States

Deal type: IPO

Industry sectors: Pharmaceuticals and life sciences, Automotive, Oil and gas 

Deal 8: London Stock Exchange $685 million acquisition of Citigroup's Yield Book and Fixed-Income indices

Jurisdictions: United States, United Kingdom

Deal type: Private acquisition

Industry sectors: Banking, Financial services

Deal 9: Melco Resorts & Entertainment $987 million share buyback

Jurisdictions: Australia

Deal type: Public acquisition, Share buyback

Industry sectors: Gaming, Entertainment

Deal 10: Moody's €3 billion acquisition of Bureau van Dijk

Jurisdictions: Netherlands

Deal type: Private acquisition

Industry sectors: Banking, Financial services

Deal 11: Multilease SFr297 million auto lease securitisation

Jurisdictions: Switzerland

Deal type: Asset Backed Securities (ABS), Securatisation

Industry sectors: Automotive

Deal 12: Neptune Oil & Gas $3.9 billion acquisition of majority stake in Engie exploration and production business

Jurisdictions: France, United Kingdom

Deal type: Private acquisition

Industry sectors: Oil and gas

Deal 13: OCBC $4.75 billion acquisition of NAB's private wealth business

Jurisdictions: Singapore

Deal type: Private acquisition

Industry sectors: Banking

Deal 14: Province of Buenos Aires ARS15.1 billion notes offer

Jurisdictions: Argentina

Deal type: Sovereign bond issue

Industry sectors: Government and public policy 

Deal 15: Republic of Maldives $200 million 7% debut sovereign bond issue

Jurisdictions: Maldives

Deal type: High-yield bond/note issue, Sovereign bond issue

Industry sectors: Government and public policy

Deal 16: Qualcomm $11 billion notes issues

Jurisdictions: United States

Deal type: Acquisition finance, High-yield bond/note issue

Industry sectors: Technology and telecommunications

Deal 17: Thermo Fisher Scientific $7.2 billion acquisition of Patheon


Jurisdictions: Netherlands

Deal type: Private acquisition

Industry sectors: Healthcare, Pharmaceuticals and life sciences



Sam Duke - Editor

Adam Majeed - Asia-Pacific Editor

Ben Naylor - EMEA Editor

Jon Moore - Journalist EMEA

Anna Kozakova - Journalist EMEA

Wai Yee Tsang - Journalist Asia-Pacific

Rani Mehta - Journalist Latin America

Kurt Stumpo - Journalist - North America and the Caribbean

Katrin Kostadinova - Data Analyst - Global