Tag

refinancing

2 insights

Three columns comparing covenant runway granted in 2026 amendments by three United States public companies: about five months for an automotive retailer, twenty-four months for an energy services company, and thirty-five months for a specialty chemicals company.

Relief Was Granted Every Time. It Ran Five Months, or Thirty-Five.

Three United States public companies disclosed covenant amendments in 2026. Every creditor group said yes. One got a conditional bridge of a few months, another two years, a third nearly three. The breach severity is not what separated them.

Capital Markets & Trends Borrower Advisory

Two proportional circles comparing commercial and industrial loan balances of $2,921.6 billion, which contracted 1.1 percent annualized in July, against lending to non-depository financial institutions of $2,016.1 billion, up 20.4 percent on the year.

Direct Lending Contracted. The Capital Did Not Leave.

July brought the first contraction in commercial and industrial balances all year, at minus 1.1 percent annualized. Over the same stretch, lending to non-bank financial institutions reached $2,016.1 billion, up 20.4 percent.

Capital Markets & Trends Borrower Advisory

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