US companies are taking advantage of blistering conditions in the debt market to slash their borrowing costs, underscoring how many investors are willing to back even risky deals as uncertainty over tariffs eases.
Borrowers repriced more than $153bn of leveraged loans in July as of Tuesday, eclipsing the previous record of $152.9bn set in December, according to data from PitchBook LCD. Leveraged loans are made to already heavily indebted companies, often backed by private equity.
Companies’ moves to reprice their loans, typically under existing facilities, comes at a time when a strong rally across US markets has pushed the premium investors demand to hold corporate debt lower.
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