Debt Capital Markets Update

The Piper Sandler weekly update highlights a robust high-yield bond market with $12.8 billion in new issues last week and a 90.6% increase in year-to-date volume. Leveraged loan activity remains stable but slightly lower than 2025 levels, with mixed yield movements across credit segments.

Key Takeaways

• 1.The high-yield market remains active with 19 bonds priced last week totaling $12.8 billion, bringing YTD volume to $102.7 billion.
• 2.Yields for B2/B rated secondary leveraged loans decreased 7 bps to 8.05%, while high-yield bond yields increased 10 bps to 6.60%.
• 3.High-yield issuance is up 90.6% year-over-year by volume, while leveraged loan volume has seen a slight decline of 5.6%.

Table of Contents

• Loan & Bond Yields and Volume
• DEBT CAPITAL MARKETS CONTACTS
• Market Commentary
• New High Yield Bond Issues (1)
• New Leveraged Loan Launches (1)
• New Investment Grade Bond Issues (1)
• Total Debt Volume
• Benchmark Yields

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