• Weekly review: IG drives issuance; HY finds a bright spot; convertible notes active

• Builders FirstSource leverage ratio drops from record adjusted EBITDA
• Coinbase touts strong cash position amid downturn to help fuel growth
• Energizer prioritizes debt paydown; 86% of debt has fixed rate coupon
• Hillenbrand touts strong balance sheet despite uncertain environment
• Holly Energy Partners aims to get leverage down between 3x and 3.5x
• Light & Wonder cuts leverage markedly after asset sale, pays $4.9 billion debt to begin Q2
• WeWork splits $1.75 billion letter-of-credit facility into tranches

• Weekly review: Headwinds week submerges issuers and rocks secondary trading

• Charter notes sale pushes leverage up, but company reiterates target
• Southwestern Energy cuts debt in bid to snag investment-grade metrics

• Weekly review: Not all deals make it through choppy week, volatility spreads to high-grade

• Hess Midstream focuses on getting leverage below 3x in 2023, CFO says
• Intel CEO expects demand to stay high with some challenges into 2024
• United’s total debt drops by $700 million in Q1 after debt prepayment
• Valero Energy cuts total long-term debt by $2 billion over six months
• Verizon leverage ratio remains flat at 2.8x after notes sales, tender
• Xerox has no unsecured debt due this year; inflation increases costs

• Weekly review: Post-earnings, it’s bank week; junk bonds are fast and furious; prices are up

• American Airlines buys $317 million of $750 million notes due in June
• Halliburton exiting Russia; CEO expects high prices, scarce resources
• Hasbro pays down $1 billion of debt; target leverage expected in 2023
• Netflix repays debt, aims to monetize sharing as revenue, growth slow

• Weekly review: Amazon goes big; LBO bond deals walk a tough road; sovereign deal warmly received

• Delta repays $1.4 billion debt in Q1; debt reduction a ‘top’ priority
• JPMorgan CEO: Volatility causes 20% drop in Q1 debt underwriting fees
• Rite Aid cuts leverage to 5.4x, intends to reach 4.5x by fiscal 2025

• Weekly review: Foreign banks, a debut issuer, a rare sovereign and a unique structure mark week

• ACCO Brands keeps cutting debt, aims for 3x leverage ratio this year
• Macy’s cuts leverage to 1.8x; no real maturities due for five years
• Nordstrom to cut leverage ratio to 2.5x from 3x, hopes for IG ratings
• RPM CFO: Global issues have impacted operations, causing lower cash

• Weekly review: IG steady; junk bonds, EM deals active; equity-related fields quiet

• AerCap reports high liquidity; leverage ratio below target at 2.66x
• Chicken Soup’s adjusted EBITDA jumps 85% in 2021; revenues rise 62%
• Core & Main cuts leverage to 2.5x; CEO hypes financial flexibility
• Darden raises pricing 6%; returns $523 million to stockholders in Q3
• EnPro Industries to lower debt to increase capacity for acquisitions
• Science Applications: Net leverage ratio to be below 3x by year-end
• Travel + Leisure expects no impact re higher rates; debt mostly fixed

• Weekly review: Convertibles, high-yield spaces revive; investment-grade issuers active

• Carnival’s strong liquidity steers towards full capacity over summer
• Commercial Metals saves horde of cash for third quarter acquisition
• Deluxe intends to keep using cash to deleverage, aims for 3x leverage
• H.B. Fuller sees 12% EBITDA growth; deleveraging slower than forecast
• KB Home aims to repay $250 million revolver debt by fiscal year-end
• ModivCare new $325 million revolver has better interest, flexibility
• United Airlines: Covid-19 seems to be behind us, bookings are normal

• Weekly review: Debt markets continue to reset as issuers emerge, but some wait on sidelines

• American Airlines to use liquidity to cut debt; few maturities in next two years
• Centrus has strong financials after $43.3 million preferreds purchase
• Despite no long-term debt, SentinelOne eyes cash, stock in Attivo buy
• Nigeria’s IHS Holding has less leverage, cost of debt after bond sale
• NorthWest acquisition to lift leverage, refi of debt due 2022 planned

• Bond week: monster M&A deal steals scene in IG; thin $500 million makes it through HY