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The DESK’s Risk & Return is the single channel for issuers and investors to access data, research, legal advice and credit rating information to support issuance and investment in debt via the primary market.

INSIGHTS & ANALYSIS

Insights & Analysis: European high-yield issuance dropped in Q1

Primary high yield (HY) bond issuance fell by 23.6% quarter-on-quarter (QoQ) in the first three months of the year, and was down almost 30% year-on-year (YoY), Dealogic data shows. A total of 82 deals were...

Origination: James Hardie secures US$3.5 billion in credit facilities

Global building materials company James Hardie Industries has syndicated credit facilities totalling US$3.5 billion. The figure consists of a US$1 billion revolving credit facility and a US$2.5 billion senior secured Term Loan A. The latter...

Investor Demand: Retail to rule private markets, institutional investors say

Institutional investors expect their retail counterparts to dominate private markets over the next two years, according to a recent State Street survey. Retail-style vehicles will represent at least half of private market flows within two...

Rules & Ratings: UnitedHealth Group credit outlooks downgraded to negative

AM Best has reassigned UnitedHealth Group’s credit ratings outlooks from stable to negative in anticipation of poor 2025 performance in its Medicare Advantage segment. Similar action has been taken at S&P Global, which has reassigned...

The Book: Alphabet tops issuer league table in May

Alphabet Inc., the parent company of Google, was the largest corporate issuer in May 2025. It issued a combined US$5 billion and a combined €6.75 billion the 1 and 6 May that were more...