• Weekly Review: Smooth waters lure issuers in, but debt week is looking choppy at end

• American Airlines cuts total debt by $680 million in second quarter
• Avantor aims to drive leverage ratio below 3x from 3.9x as of June 30
• Constellium reports 2.5x debt ratio, on high end of targeted range
• Cusip sees slowdown in requests for corporate, municipal identifiers
• Iqvia lowers debt ratio, to de-lever further by growing EBITDA
• Mattel drives debt ratio down to 2.3x from 3.1x a year ago, CFO says
• Meritage refinances with convertibles due 2028, secures IG rating
• Royal Caribbean debt ratio is 3.5x, within company’s targeted range

• Weekly Review: Banks exit earnings; Europe field still active; preferred space wakes up

• Alcoa expects to reduce debt, deleverage as it improves balance sheet
• Bank of America: CET1 ratio is 11.9%, above regulatory requirements
• Citigroup: Investment-grade debt issuances reach near-record levels
• Fifth Third Bancorp increases CET1 ratio by 13 bps to 10.6% during Q2
• Forestar finishes quarter with significant liquidity, modest leverage
• PNC reports 10.2% CET1 ratio; company is well capitalized, positioned
• United Airlines plans to keep deleveraging beyond pre-pandemic levels

• Delta to repay $4 billion of debt in 2024, $2.1 billion repaid so far
• Greenbrier prioritizes cutting recourse debt; no near-term maturities
• JPMorgan increases CET1 ratio 30 bps quarter-over-quarter to 15.3%
• Saratoga gets $75 million facility, may call $321 million baby bonds
• Smart Global retires $75 million of term loan debt in third quarter

• Weekly Review: International issuers bring deals, but only one U.S. company uses holiday week

• Constellation still expects 3x target debt ratio in this fiscal year

• Weekly Review: Bond deals move smoothly into secondary trading as middling week closes

• Carnival prepays $1.6 billion of term loan debt, reprices debt in Q2
• H.B. Fuller: Strong adjusted EBITDA, free cash flow lower debt ratio
• Micron repays $650 million of debt; weighted average maturity is 2031

• Weekly Review: Hertz drives away with $1 billion; Home Depot does $10 billion

• Aurora Cannabis pays down all convertible debt at cannabis business
• GMS expects net debt leverage to rise to 2x from 1.7x for Yvon buy

• Weekly Review: Data releases put a moment of caution into debt markets

• Concrete Pumping has strong liquidity, 3.2x debt ratio at end of Q2
• Synchrony to be compliant with rule changes within transition period
• Vail Resorts refinances $600 million 6¼% 2025 note via 6½% 2032 note

• Weekly Review: Infrequent issuers, rare names show up in debt markets; deal machine still hums

• Carvana to pay cash interest through 2026 and commits to cut leverage
• Core & Main sees net leverage jump 1x in a year, plans to deleverage
• NGL Energy revamps balance sheet with $2.9 billion debt refinancing
• Semtech may sell assets at fair value to help cut debt; ratio is 9.5x
• United Natural aims to improve free cash flow and further reduce debt
• Verint touts healthy financials, with low net debt to last 12 months’ EBITDA

• Weekly Review: International banks in focus; bond markets steady at end of May

• Abercrombie & Fitch has $214 million outstanding notes after Q1 buy
• American Airlines will have paid down $15 billion of debt by year-end
• American Eagle exits Q1 with no debt, $900 million of total liquidity
• Nordstrom reports $1.2 billion liquidity, will keep cutting leverage

• Weekly Review: Bond issuers beat the long weekend bell under rockier conditions

• Analog Devices has 1.1x debt ratio after selling $1.1 billion of debt
• Hovnanian retires $168.7 million debt since Q2, aims to keep reducing
• Lionsgate expects lower leverage after split from Lionsgate Studios
• RBC Bearings plans $300 million of debt cuts, 2x debt ratio by fiscal year-end
• Toll Brothers has sufficient cash, no major near-term debt maturities
• Viasat drops net debt ratio to 3.6x with debt repayments, extensions