Corporate Borrowing & Debt

The trend is a sign that soaring bond yields are spurring corporations to look at ways to cut their borrowing costs.

Recent research indicates banks have put the brakes on lending to small to midsize companies.

The pullback in total lending in the last half of March was broad and impacted real estate, commercial, and industrial loans.

Lending conditions were already tightening before the banking crisis in March, and economists anticipate that access to credit will get even more difficult for businesses and households.

Debt investors losing millions on the move to SOFR are starting to fight back, requiring credit spread adjustments to make up the difference between the benchmarks.

Routine revolver refinancing becomes an ordeal as bank capital tightens.

The largest U.S. offering in months signals that there is still appetite for jumbo issuances from companies with top-tier ratings.

Yields on corporate bonds have edged steadily higher over Treasuries during the waves of selling that raced through fixed-income markets this year.