Skip to content Skip to footer

Loading Results

Debt capital markets

Navigating the challenging and dynamic debt capital markets

We help clients plan, navigate and execute complex cross-border bond and debt transactions. We are a dedicated specialist debt advisory team, with experience across investment grade bonds, high yield bonds, rule 144a bonds, Euro medium term note (EMTN)/Global medium term note (GMTN) programmes, and Environmental, Social and Governance (ESG), green and sustainability-linked bonds. The team has deep industry knowledge and expertise across several international markets.

How we can help

Planning and selection

  • Assess the requirements of your organisation, current financial liquidity and risk profile. We offer an experienced team to provide support in the selection of available debt securities:
    • Investment grade bonds
    • High yield bonds
    • EMTN (establishment, updates and drawdowns)
    • ESG/Green/Sustainability bonds
    • Rule 144a bonds
  • Determine deal readiness and areas of risk and focus at the outset of the transaction
  • Drive project management and coordination for the transaction and provide practical, commercial and timely advice to achieve transaction milestone dates

Financial reporting

  • Deploy our knowledge of the business to assist and advise on inclusion of the financial information, non-GAAP measures, pro forma financial information and non-financial information in the Offering Memorandum
  • Optimise presentation of historical financial information so that the most comfort can be provided by the independent auditors
  • Review of consistency of financial information included in the Offering Memorandum, rating agency presentations and roadshow materials
  • Transaction support and assistance with documentation and disclosures in the Offering Memorandum, including the specific style of financial disclosures for Rule 144a issuances (if applicable)

Regulatory environment

  • Provide advice on current market practice and ongoing transaction compliance which is highly important in order to market to potential investors
  • Assistance with the due diligence process
  • Assistance with communications with regulators

Other services

  • Assistance with the drafting of financial sections of the Offering Memorandum
  • Provide tax, structuring and accounting advisory advice in complex financial transactions, such as M&A, carve outs, divestitures etc.

Structuring and deal accounting

Bonds in review: The European ESG/green/sustainable bond market saw nearly double the number and value of deals in 2021 compared to 2020, highlighting the clear focus on green/sustainable finance from both investors and issuers. In 2021, there were 296 deals and c.€155bn raised compared to 149 deals and c.€82bn raised in 2020. We expect bond issuances with an ESG/green/sustainable element to see continued growth in the market.

Debt Watch Europe 2021 Annual Review

Contact us

Sarah Hitchen

Sarah Hitchen

UK Capital Markets Leader, PwC United Kingdom

Tel: +44 (0)7734 958782

Jennifer Harper

Jennifer Harper

Partner, Capital Markets, PwC United Kingdom

Tel: +44 (0)7739 449097

James Wong

James Wong

Partner, PwC United Kingdom

Tel: +44 (0)7775 781321

James Millar

James Millar

Director, PwC United Kingdom

Tel: +44 (0)7725 706184

Assel Abisheva

Assel Abisheva

Director, Capital Markets, PwC United Kingdom

Tel: +44 (0)7711 562337

Follow us

Speak with us and let’s get started.

Required fields are marked with an asterisk(*)

By submitting your information, you acknowledge that we may send you business insights that we consider relevant to your interests. Please see our privacy statement for details of why and how we use personal data and your rights (including your right to object and to stop receiving marketing communications from us). To stop receiving marketing communications from us, click on the unsubscribe link in the relevant email received from us or send an email to