Corporate borrowers in North America and Europe face a $1.2 trillion maturity wall over the next 24 months. Elevated benchmark rates are forcing management teams to evaluate non-traditional refinancing options.
Private Credit Expansion
Direct lenders are capturing market share from syndicated loan desks, offering flexible terms at a premium rate. Private credit allocations have increased 18% as commercial banks pull back from leveraged lending.
Balance Sheet Restructuring
Companies are prioritizing asset divestitures and capex reductions to meet interest coverage covenants. Non-core business units are increasingly brought to market to deleverage corporate balance sheets.