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ARTICLE · 11 AUGUST 2025

Debt Download - August 2025

Goodwin Procter LLP
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Welcome to Debt Download, Goodwin's monthly newsletter covering what you need to know in the leveraged finance market. Is the repricing market as hot as a Manhattan subway station in August?

United StatesFinance and Banking
Dylan S. Brown
Dylan S. Brown
Reid Bagwell
Reid Bagwell

Welcome to Debt Download, Goodwin's monthly newsletter covering what you need to know in the leveraged finance market. Is the repricing market as hot as a Manhattan subway station in August? Read on to find out.

Note: Some of the links in this newsletter may redirect you to a subscription-only resource.

In the News

  • The broadly syndicated loan (BSL) markets rebounded significantly in July, with gross BSL volume of $219 billion, the highest of the year. The flex score was 13.3:1 — less borrower-friendly than in June—but, on the other hand, spreads tightened to a multi-year low of S+333 for the second quarter of the year, according to CreditSights. Nominal spreads for private credit loans likewise tightened to S+532 (down from S+538 in the first quarter of the year). Repricing amendments returned with a vengeance, with over $159 billion in term loans repriced to reduce borrowing costs by approximately 42 basis points through July 29. According to Bloomberg,

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