Welcome to the results of our annual corporate client survey gauging trends in the corporate debt markets in 2015.
In summary, key conclusions include:
- a significant number of UK corporates surveyed are looking to increase overall debt levels, reflecting an increase in corporate confidence
- of those corporates increasing their debt this year, 42% intend to use that to fund capital expenditure and 33% to fund acquisitions
- despite the multitude of refinancings that have taken place over the last 18 months, corporate refinancings are set to continue at an accelerated pace well beyond scheduled maturities in 2015
- UK corporate borrowers will continue to be reliant on traditional bank debt but are continuing to diversify their sources of funding via the debt capital markets and alternative non-bank lenders – with a significant shift anticipated between 2015 and 2018
- 90% of UK corporates surveyed are of the view that a UKPP market would be helpful to them but many remain sceptical that a UKPP market will develop in the medium term, citing supply-side issues as a significant impediment to growth.