Junk Bond Maturity Wall Erodes as Money Managers Seek Yield
- Companies push out maturities amid highest supply in years
- Prospect of lower interest rates to help future refinancings
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The feared maturity wall is proving more of a speed bump, with the world’s junk bond market so far this year seeing the biggest decline in looming debt repayments in at least a decade.
Since the start of 2024, corporates have settled just over $170 billion of their high-yield bonds due in the coming two years, according to data compiled by Bloomberg. That’s more than they redeemed over the entire course of 2021, when repayments peaked amid rock-bottom financing costs.