Corporate Borrowing & Debt

The sums are so large that issuers will have to tap just about all major debt markets, and it could take years for these tech investments to pay off—if they pay off at all. The rush has left some lenders overexposed.

Congratulations to Creative Artists Agency on winning the 2025 Gold Alexander Hamilton Award in Treasury Transformation!

Tech firms are expected to turn to debt for as much as $1.5 trillion by 2028, which could widen spreads across the whole market

The company’s credit strategists project that overall issuance will reach $1.81 trillion in 2026, with maturing debt little changed but net issuance at its highest since 2020.

The company issued $17.5 billion of bonds in the United States, after issuing €6.5 billion in Europe.

At $30 billion, it’s the largest high-grade U.S. note sale since 2023, and it drew a record number of orders at $125 billion.