• AerCap acquisition deal prices with heavy demand; banks kick off fresh round of new deals

• American plans ‘significant, steady and continuous debt reduction’
• Mattel free cash flow drives down leverage; few supply-chain issues
• Southwest Airlines has more cash than outstanding debt, CFO reports
• TechnipFMC aims to decrease debt, de-lever to boost capital structure
• Truist sees momentum in commercial loans, awaits more as Covid abates
• United hopes to repay debt economically, expects 4x leverage in 2023
• Verizon CFO: Cash balances to fall in Q4; deleveraging a top priority

• An epic journey, provincial, sovereign and inaugural issuance marks corporate debt week

• Aircastle cuts net debt-to-equity ratio; industry demand remains low
• Bank of America CEO: U.S. economy growing faster than pre-pandemic
• Citigroup CEO: Client sentiment upbeat; cash flows drive deleveraging
• Delta allots $500 million to incremental debt reduction initiatives
• Walgreens targets IG credit ratings, may up leverage for acquisitions

• High-yield bonds price with actual high yields; EM awaits direction; convertibles quiet

• Clear Channel ignores leverage until recovery is secure, M&A explored
• Hovnanian repays $181 million of debt in Q3, plans to refinance more
• ModivCare to use cash from Matrix to de-lever, barring acquisitions
• Outfront Media may call notes in June, has plenty of liquidity, cash

• Sept. 27 week: Medline’s “downsized” LBO deal steals show; Analog Devices sells big refinancing deal

• Bed Bath & Beyond touts $2 billion of liquidity after revolver upsize
• Crown Castle says fixed-rate, long-term debt keeps inflation at bay
• McCormick still prioritizes debt repayment with rising long-term debt
• Micron eyes stock buyback, dividend after retiring debt, convertibles
• United Natural cuts leverage to 3.1x, will repay $100 million of debt

• High-yield issuers shake off lethargy; IG slows; convertibles space moves as summer turns to fall

• ADT intends to direct capital towards getting leverage ratio below 4x
• Boston Properties CEO touts strong balance sheet with high ratings
• Fidelity lauds capital position with cash to pay off notes due 2022
• Houghton Mifflin Harcourt could refi 9% senior notes in February 2022
• Molina touts high liquidity, cash generation; won’t tap debt markets
• TripAdvisor marks bond sale proceeds to retire notes callable in July

• IG hums and high-yield sputters in second week of September; banks, REITs and corporates active

• Air Lease has record levels of liquidity after Covid capital raises
• Ally Financial has robust balance sheet in case of macro uncertainty
• Brunswick touts strong financial position with healthy balance sheet
• CDW aims to prioritize hitting net leverage target range of 2.5 to 3x
• Centene aims to cut debt in bid for IG ratings, lower interest costs
• Clarivate may use expected free cash flow to cut debt to equity ratio
• Comcast buys back debt, aims for 2.5x leverage ratio sometime in 2022

• Investment-grade action memorable in first week of September; Chilean issuers crop up in EM

• Europe focuses on green bonds in last week of August as U.S. markets take a break

• Catalent CEO, CFO discuss plans for Bettera acquisition
• Dell expects IG ratings soon, repays $5.5 billion debt year to date
• Dycom has lots of cash, some to be used to repay 0.75% convertibles
• Nordson has enough borrowing capacity for organic, inorganic growth
• Signet aims for 3x ratio, may use ABL loan for 2024 notes, preferreds
• VersaBank: Low-cost funds from fixed-to-floater sale is ‘encouraging’

• Late-summer corporate debt markets take breather before likely September pickup in activity

• Applied Materials has record revenue, free cash flow in third quarter
• Burlington pays down notes in Q2, with plans to keep cutting leverage
• Dollar General maintains leverage at 3x, returns cash to shareholders
• Estee Lauder keeps high liquidity; Q4 sees debt refi with new notes
• Prospect Capital aims to reduce risk on under-leveraged balance sheet
• Smucker prepays $400 million notes due 2022; leverage falls to 2.7x

• Bond business finally tapers off in third week of August, as it should

• CDK wants higher leverage; cash balance falls after notes redemption
• Macy’s expects leverage to fall to 2.5x after planned debt repayment
• Navigator has only $50 million of loan debt maturing until 2023
• Paysafe leverage will rise to 5.3x, but executives aim to de-lever
• Performance Food touts capital structure, reaching 4x leverage goal
• TJX cuts debt by $2.75 billion this year, calls $2 billion debt in Q2