Market commentary and interactive data tool, offering insights into leveraged loan and high yield bond market trends.

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Leveraged Finance Commentary

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MEA Islamic finance 10 Feb 2022

Islamic finance closes in on LIBOR transition

Islamic finance providers have been slow to make the transition away from LIBOR, as the replacement benchmark rates pose challenges in the context of Sharia compliance

Buyouts 09 Feb 2022

Buy-and-build boom sees add-on debt surge

Issuers are tapping institutional loan markets for add-on debt at a rapid pace as private equity firms turn to buy-and-build strategies to lower entry multiples and accelerate deployment

M&A (excl. buyouts) Healthcare 07 Feb 2022

M&A drives issuance in busy healthcare space

Following a year of healthy activity, M&A deals in the pipeline are set to sustain leveraged finance issuance in the pharmaceutical, medical and biotech sector in the months ahead

High yield bonds Leveraged loans 14 Dec 2021

Investor appetite gives borrowers a boost

Investors eager to maintain high levels of capital deployment have kept terms and pricing highly flexible for bond and loan issuers, but that does not mean easy access for borrowers—lenders are still pushing back against credits that fall short of the quality bar

CLOs Covid 09 Dec 2021

Credit ratings rebound

Reopening economies have transformed the credit landscape with ratings upgrades rising sharply through the year, after 2020 recorded the highest number of downgrades in more than two decades

ESG & sustainability 07 Dec 2021

Lenders zero in on the fine print as ESG issuance surges

As sustainability-linked debt issuance continues to rise, lenders are sharpening their focus on ESG KPIs to make sure borrower credentials stack up

Fundraising 02 Dec 2021

Debt financing gains traction as SPAC space matures

In a rapidly maturing SPAC market, sponsors are more frequently turning to debt financing tools to fund deals

High yield bonds Leveraged loans Energy 30 Nov 2021

Recovering prices stabilize oil and gas credits

Recovering oil prices brought much needed stability to the balance sheets of oil and gas borrowers that were on the brink of foreclosure through lockdowns, but the transition away from hydrocarbons poses an ongoing challenge for issuers

Buyouts 22 Nov 2021

Active private equity firms buoy buyout issuance

Issuance of leveraged loans and high yield bonds to fund buyouts surged to quarterly highs in 2021 as private equity sponsors raised their investment game

Global Leveraged loans North America Western and Southern Europe Asia-Pacific (excl. Japan) 09 Nov 2021

Leveraged loan markets keep on rolling

Despite a spike in energy prices and persistent inflation, year-to-date leveraged loan activity showed substantial gains on 2020 levels

High yield bonds North America 08 Nov 2021

Canadian issuers take advantage of buoyant US markets

A rebounding domestic economy and abundant liquidity south of the border are encouraging Canadian borrowers to draw on US high yield bond markets in increasing numbers

Global High yield bonds North America Western and Southern Europe Asia-Pacific (excl. Japan) 27 Oct 2021

High yield bond markets make steady year-on-year gains

Global high yield markets paused for breath in Q3 2021, but year-to-date issuance remains ahead of 2020 levels in most regions