- Driven by increased mergers & acquisition (M&A) activity, the pace of corporate debt issuance is likely to set a new annual record in 2015.
- Improving business conditions, open capital markets, and accelerating M&A activity are driving record corporate new issuance.
- Corporate bond performance has been negatively impacted by the record issuance.
- The 2% GDP environment, increasing regulatory headwinds, and demand uncertainty are all contributing to a lack or unwillingness to grow business organically. Corporations, under pressure by shareholders for growth and multiple expansion, are actively buying growth within their industries as a response.
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