Debt Capital Markets Update

Piper Sandler's weekly DCM update highlights a busy week of $4.7 billion in high-yield bond pricing and $11.3 billion in leveraged loan launches. While investment grade volume is up significantly year-over-year, secondary high-yield yields saw a 19 bps increase.

Key Takeaways

• 1.High-yield bond issuance remains robust with $4.7 billion priced across eight deals last week, bringing year-to-date volume to $107.4 billion.
• 2.The leveraged loan market saw significant activity with 15 transactions launched last week totaling $11.3 billion.
• 3.Secondary market yields for B2/B rated high-yield bonds increased by 19 bps to 6.79%, while leveraged loan yields decreased slightly to 8.03%.

Table of Contents

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

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