Credit market news
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DCM Insider Weekly – 28th September 2026
M&A and AI driving DCM primary. $50 billion+ from Paramount Skydance. $10 billion+ deals from Sysco and SoftBank. High-yield starting to widen – risk this could spread up the credit spectrum over the next few months.
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Data center and GPU financing – who will borrow, structures, and fee pools
Data center capex globally over 2027 and 2028 is likely to be over $2 trillion. At least $1 trillion of this likely to be funded with debt. Investors, bankers and lawyers will need more capacity to serve this new primary issuance – across IG, HY, securitization, private credit and loans. The biggest issuance has come…
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Life at 5% – which borrowers refinance, which need a new structure, and who to call now
Rates have increased from 1% to 5% over the last 6 years. This will lead to defaults as some companies need to refinance, reduced activity in some sectors – but also opportunities for some industries as competition for their inputs falls.