Debt Explorer | US and European high yield bond markets cooled during the first quarter of 2025 as macroeconomic uncertainty and a dearth of M&A financing opportunities put the brakes on issuance

Debt Explorer | Despite ongoing economic headwinds, global high yield bond markets showed gains in the first quarter of 2023.

European leveraged finance markets paused for breath in 2022, due to rising interest rates, volatile geopolitics and a tightening of financial markets across the board—but what can we expect in 2023?

Mining & metals companies can take advantage of low prices in the leveraged finance markets to manage their liabilities amid the expected recession.

Is the mining & metals sector prepared for a global downturn?

A rebounding domestic economy and abundant liquidity south of the border are encouraging Canadian borrowers to draw on US high yield bond markets in increasing numbers

The mining & metals industry is critical to the success of the world's transition towards net zero, both in reducing its own carbon footprint and providing the materials that will deliver a cleaner and more sustainable future

Investors are returning to mining & metals amid an almost unprecedented rally in the US capital markets that is taking place despite the continued economic challenges related to the COVID-19 pandemic

What will drive issuance in a post-COVID-19 world?

The European leveraged finance market remains resilient after a year of unprecedented hardship, as lenders dissect credits to determine the best possible deals, from pricing to documentary terms

Although US high yield bond issuance cooled somewhat in Q3 2020, it still hit record highs, while European activity remained on an upward trend

After COVID-19 concerns brought issuance to a near halt in March, Q2 high yield bond activity climbed in most markets as borrowers sought to boost balance sheets and cash reserves