Junk bond and leveraged loan issuers have cut ttheir 2024-2026 maturity wall by 40% from a year ago, according to BOA estimates.
"This episode represents one of the most aggressive instances of maturity extension in the history of leveraged finance." pic.twitter.com/HFuzx9GpjO
— Tracy Alloway (@tracyalloway) March 22, 2024
Back in the days after the 2008 financial crisis we used to talk a lot about “extend and pretend,” or the idea that banks and mortgage servicers were modifying home loans to keep them afloat.
More companies have defaulted on their debt in 2024 than in any start to the year since the global financial crisis, per FT: pic.twitter.com/PIiZSDzuV6
— unusual_whales (@unusual_whales) March 22, 2024
Troubled NYCB is not another Silicon Valley Bank. It’s worse.