In the second half of 2021 the number of debt offerings increased by 20% from the same period in 2020.

This marks an acceleration in growth from the 58.5% 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 10.3% of all deals taking place in the sector. This represents an increase from the figure of 7.1% 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.

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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 ICON in a private placement of senior secured notes due in 2028.

The debt offering is set to be worth $1,515 million.

The database states that the rationale behind this deal was as follows: "The company intends to use the proceeds to (i) fund the cash consideration payable by ICON for the merger, (ii) refinance and repay certain existing indebtedness of ICON, its subsidiaries and PRA (the “refinancing”) and (iii) pay fees and expenses related to the merger, the refinancing and the offering."