Corporate Borrowing & Debt

Climate group claims environmental and reputational risks outweigh prospective revenue for banks considering underwriting bonds for coal, oil, and/or gas companies.

Direct lenders are lavishing risky companies and private-equity firms with capital at rates below what's available in the volatility-lashed high-yield and syndicated-loan market.

Risk premiums on U.S. high-grade corporate bonds are climbing toward their highest levels in about two years.

For both investment-grade and below-investment-grade public companies, debt refinancing and working capital improvements had great effect in 2020 and 2021.

Global yields have experienced a dramatic turnaround from August, when more than $1.5 trillion of debt—most of it in Europe—came with a subzero yield.

As LIBOR rises—blowing past 1% yesterday, for the first time in nearly two years—more struggling junk-rated borrowers may end up with negative cash flow, unable to pay interest payments on their loans.

U.S. fossil-fuel suppliers begin to tie bank credit lines to climate targets.

If signed into law, the measure will head off uncertainty and legal fights around some $16 trillion of LIBOR-linked deals that may survive beyond June 2023.