U.S. registered block volumes surged in November with $7.4Bn (inc. over-allotment exercised) via 17 transactions tracked by CMG, a 61% increase from the $4.6Bn raised via 15 transactions the same period last year.
Two offerings, Welltower Inc. and Corebridge Financial, Inc., raised $1.5Bn and $1.0Bn, respectively, collectively representing a third of the capital raised.
With 90 offerings raising $29.4Bn YTD, U.S. registered block activity is up 34% and 33%, respectively. Along with the increase in activity, 2023 is experiencing improved T+1 performance (0.6% vs -0.3%) and narrower discounts (-4.5% vs -6.6%) compared to last year.
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