Market Trends 2021/22: Block Trades


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.