Maturity Wall Takeaways
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Mark Renzi and Brett Witherell illustrate key statistics related to the debt maturity wall—analyzing its historical cyclicality, impending maturity peaks, and debt issuances. They provide an overview of the wall’s cyclical peaks for leveraged loan maturity, high-yield bond maturity, and high-yield debt outstanding.
In today’s corporate world, the so-called “debt maturity wall” can feel a lot like the horizon: always looming, never quite reached. It refers to the growing amount of corporate debt coming due—and fears that refinancing debt might become more costly. Since Moody’s coined the phrase in 2010, it has appeared regularly in headlines and boardrooms, flaring up every few years even as its timeline is consistently pushed out.
Are 2024’s alarm bells any different? Yes and no. According to S&P Global, debt maturities are expected to jump from nearly $2 trillion in 2024 to nearly $3 trillion in 2026. And though there has been some headway in cutting these maturities down, high interest rates make this increasingly difficult, especially for high-risk borrowers.
Our latest issue of ThinkSet takes stock of opportunities, as well as emerging risks and how to mitigate them.
