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ARTICLE · 19 SEPTEMBER 2025

Debt Download - September 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.

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. Very soon leaves will be falling along with, many think, interest rates. What will autumn bring for the leveraged finance market? 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 softened somewhat in August as a result of the second highest bids wanted in competition (BWIC) activity in recent memory driven by called CLOs and downbeat reactions following the July jobs report, though net supply remained positive at over $4.6 billion, according to CreditSights. Repayments in August rose to $54 billion, the highest on record, contributing to investors' need to deploy capital. The flex score in August was 4.8:1 in favor of price tightening, the least borrower-friendly flex since April. While spreads ticked up from July's multiyear

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