Market Trends 2021/22: Block Trades


Summary

This practice notes discusses the market trends for block trades in 2021 and firstthree quarters of 2022, including notable transactions, deal structure, process and deal terms, and provides a market outlook for the remaining of 2022. Block trades continue to be a popular and an efficient method of raising capital either by issuers or selling stockholders. A block trade (also called a bought deal) refers to an offering of a block of securities where the underwriters agree to purchase the securities without prior marketing.