• Weekly Review: Convertible bond space active after Uber’s Thanksgiving week success

• Dana to use free cash flow to cut debt ratio to target range from 2.5x
• Match touts balance sheet, low leverage with no maturities until 2026
• Rogers Sugar increases revolver, mulls debt, equity-like instruments
• Seadrill gets greater flexibility, lower cost of capital from Q3 refi
• Victoria’s Secret aims to cut ABL well below $295 million by year-end

• Central Garden keeps leverage ratio within target range of 3x-3.5x
• Kohl’s to repay $111 million bonds, reduce revolver in fourth quarter
• UGI turns eye toward balance sheet, reducing leverage ratio below 4x

• Weekly Review: Acquisition deals in spotlight as holiday season slowdown in view

• Fortrea hopes to cut debt ratio below 3x from 4.9x at the end of Q3
• Gap repays asset-based line of credit in Q3, reports high cash levels
• Paysafe now expects to reach 5x net leverage ratio by year-end 2023
• Post debt ratio drops to 4.6x after large growth in adjusted EBITDA
• Salem Media sells assets to lower 11x debt ratio, in default on ABL
• Spectrum has zero net debt with $1.6 billion debt, $1.9 billion cash
• Summit Midstream refinances notes due 2025, amends ABL facility

• Weekly Review: Enthusiastic bond market sees robust volume during Nov. 6 week

• B&G targets net debt ratio below 5.5x as it repays debt, grows EBITDA
• Icahn sees unfavorable bond market, waiting to tackle 2024 notes
• Mercer sells high-cost debt to ensure high liquidity amid volatility
• RingCentral keeps paying down debt; ratio is 3x despite Q3 debt sale
• SeaWorld will take on debt to fund building of hotels on park lands
• Sylvamo repays $46 million debt during the first 10 months of 2023
• TransDigm ‘comfortable’ with 4.8x debt ratio; no plans to reduce debt
• US Foods cuts debt ratio to 2.9x; further reduction expected in 2024
• Viasat touts financial flexibility, high liquidity at end of quarter
• Vistra expects debt ratio to stay under 3x in 2024 after acquisition

• Weekly Review: Oct. 30 weeks brings new issuer, merged company, better rating, upsized deal

• Bombardier targets 4x year-end debt ratio; no maturity for 18 months
• Caesars cuts debt; net leverage ratio declines to 3.9x as of Sept. 30
• Carvana cuts total debt by $1.33 billion in Q3 from exchange, consent
• Charter will keep leverage ratio within targeted range of 4x to 4.5x
• Gran Tierra touts improved flexibility from $487.59 million debt swap
• Hubbell eyes debt for $1.1 billion buy; net debt ratio rises to 1.5x
• Norwegian expects profound drop in leverage as it keeps repaying debt
• Pfizer revenues fall significantly; Covid products see sharp decline

• Weekly Review: Weekly new issuance not as big as expected in domestic market

• Asbury Automotive expects debt ratio to reach mid-twos after purchase
• AT&T earns more than cost of debt; 2.5x debt ratio is expected by 2025
• Cimpress cuts debt, lifts adjusted EBITDA, shrinking leverage to 3.5x
• Cleveland-Cliffs lowers its net debt by $500 million in third quarter
• Mattel touts financial position, reduces debt ratio to 2.7x from 3.1x
• Royal Caribbean pays $775 million debt, gets boost from S&P, Moody’s
• Xerox touts balanced bond maturity ladder over next few years

• Weekly Review: Banks clear earnings and issue with high coupons; junks deals come big

• Bank of America: Soft landing for low inflation, low growth economy
• Fifth Third is cautious despite signs of soft landing; CET1 increases
• Morgan Stanley has ample capital buffer to meet proposed rule changes
• PNC could issue debt at holding company if regulatory rules change
• Truist reports CET1 of 9.9%, confident in meeting all new regulations
• U.S. Bancorp boosts capital levels, CET1 ratio to adhere to new rules

• Weekly Review: Acquisition deals bolster mid-October bond issuance volume

• Aircastle lifts revolver to $1.9 billion with $130 million expansion
• JPMorgan: High inflation, interest rates expected from debt, deficits
• Lamb Weston touts strong balance sheet, decent debt maturity schedule
• Rayonier targets 2.5x leverage with EBITDA growth, 10% gross debt cut
• Walgreens interim exec says company focused on ‘cash management’

• Weekly Review: First week of October: new month, all-new market conditions

• Carnival chipping down debt, expects $31 billion balance by year-end
• Conagra free cash flow doubles, enabling debt cuts, 3.55x debt ratio
• Concentrix completes Webhelp buy; debt ratio soars to 3.4x from 1.7x
• Lamb Weston has $1.16 billion liquidity, 2.3x leverage ratio after Q1
• Lumen exec: Higher-cost debt expected near-term as debt is refinanced
• McCormick anticipates reaching 3x target ratio earlier than expected
• Stolt-Nielsen cuts debt via cash flow, slices net debt ratio to 2.65x

• Weekly Review: September heads out with the market juggling fresh bonds

• Biocartis enacts recapitalization plan to tidy up balance sheet, debt
• Jabil touts staggered maturities, attractive coupons, high liquidity
• MasTec aims for 2.5x debt ratio by year-end, more fixed-rate debt
• Micron keeps liquidity high; net leverage ratio to peak in Q2 2024
• Progress Software pays down $30 million bank debt; debt ratio is 2.3x
• United Natural touts lowest debt balance ever, plans to keep reducing
• Worthington boasts low leverage, high liquidity after Q1 debt paydown