Search
 

2025 Starts with a $185 Billion Debt-Sales Frenzy

“Issuers are taking advantage of calm markets, low volatility, and tight spreads before Trump’s tariffs might spoil the party. ... For a record amount of issuance, there must also be a large amount of investors ready to put money at work. This is indeed the case.”

By Tasos Vossos and Caleb Mutua | January 09, 2025 at 05:04 PM
The U.S. Treasury building in Washington, D.C., on December 31, 2024. Photographer: Samuel Corum/Bloomberg.

Borrowers are flooding global debt markets at an unprecedented pace as they take advantage of demand from credit-hungry investment managers flush with cash.

With corporate bond spreads near a 30-year low, more Asia-Pacific borrowers came out Wednesday, after they priced the most notes since 2023 on Tuesday. In Europe, a record number of borrowers raised funding Tuesday, while Wall Street is forecasting a January record $200 billion in the United States. Globally, corporations and governments have raised roughly $184.5 billion across all kinds of bonds this year through Tuesday, with more expected to price later this week. Even risky debt from China is bouncing back, while the Airport Authority of Hong Kong priced the largest-ever issuance in the city’s local currency. The strong demand is also fueling a blitz in the leveraged loan market, with over $33 billion of deals launched in the U.S. this week.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2025 ALM Global, LLC. All Rights Reserved.