In today’s corporate world, the so-called “debt maturity wall” can feel a lot like the horizon: always looming, never quite reached. It refers to the growing amount of corporate debt coming due—and fears that refinancing debt might become more costly. Since Moody’s coined the phrase in 2010, it has appeared regularly in headlines and boardrooms, flaring up every few years even as its timeline is consistently pushed out.  

Are 2024’s alarm bells any different? Yes and no. According to S&P Global, debt maturities are expected to jump from nearly $2 trillion in 2024 to nearly $3 trillion in 2026. And though there has been some headway in cutting these maturities down, high interest rates make this increasingly difficult, especially for high-risk borrowers.  

Our research reveals that 2028 may be the year leveraged loan maturities hit their peak, given the amount of 2021 issuances fueled by private credit and favorable rates. One perspective may be that this is simply a function of how the leveraged loan market works: there will always be a wall, and organizations will persistently have to find creative ways to avoid it.  

 

The Debt Maturity Wall: Myths, Realities, & Solutions

The Debt Maturity Wall: Myths, Realities, & Solutions

 

Maturity Wall TAKEAWAYS

Mark Renzi and Brett Witherell illustrate key statistics related to historical cyclicality, impending maturity peaks, and debt issuances.

 
 

Banks Face
$2 Trillion Wall of CRE Debt

John DelPonti takes up the commercial real estate issue from the lender perspective. Which banks are really in trouble?

“Don’t Panic”:
An Economist’s Take on the Debt Maturity Wall

Dr. Albert Metz offers a view of the impact of policymakers, how firms can prepare, and what’s to come.

 

Retailers Must Focus on Cash Management and Cost Takeouts

Murali Gokki, Joe Schmitt, Shawn Ashworth, and Chap Kistler provide best practices to reduce costs and develop stronger cash management processes.

Commercial Real Estate’s Debt Maturity Wall Is Unprecedented

Andrew Manley, Will Russo, and Ian Mackie discuss the wall in the CRE sector and what borrowers can do.

 

With LMTs on the Rise, Borrowers Need a Risk Mitigation Strategy

Rob Shapiro examines the resurgence of liability management transactions in the face of looming bankruptcies.

 


What Is Next for ESG?

Aging Infrastructure, New Opportunities