In addition to this month’s review, we have compiled a comprehensive data summary of Q1 24 leveraged finance activity that can be downloaded here.

Anyone hoping for an M&A-driven boost to primary market volumes will have to wait a little longer, judging from Q1 activity.

Q1 2024 volumes totaled more than $395bn between bonds and loans, nearly 75% of total volume for all of 2023. However, this consisted largely of issuer-friendly refinancings and repricings on existing debt as opposed to true new money opportunities.