Corporate Borrowing & Debt

Demand from pension funds, which control more than $3 trillion, is at least one reason why valuations for U.S. corporate bonds are so high now.

U.S. companies are finding it cheaper to borrow from the investment-grade market, buoyed by a wave of ratings upgrades, faster earnings growth, and…

Sustainable bonds are expected to post record issuance this year, propelled by borrowers seeking cash to fund energy-transition plans.

"If you've got a big financing to do in 2024, conditions feel very strong right now, so then why not try to get that done."

But the proportion making changes is slowing—a net 14.5% tightened standards on C&I loans for midsize and large businesses.

With governments and development banks dominating sales, the global market for green, social, sustainability, and sustainability-linked bonds reached $150 billion last year.

"If you don't believe there are assets to replace your existing, you're going to be more willing to do a leveraging transaction like using first lien to take out a second lien."

"We could easily see $200 billion of sales this month."