3Q 2023 Investor Presentation
Leveraged Finance Activity Driven by
Refinancing and M&A
Uses of Funds from USD High Yield Bonds and Bank Loans Issuance 1,2
5%
20%
5%
26%
6%
19%
3%
14%
5%
2%
8%
I
I
24%
26%
I
I
I
42%
|
T
I
I
I
I
I
I
73%
83%
75%
75%
69%
69%
50%
I
I
FY 2017
FY 2018
3
FY 2021
FY 2019
FY 2020
Debt Refinancing
M&A
■Other ³
FY 2022
I
I
YTD 2023
1. Percent of mentions for each respective period in bond issue or bank loan program tranche documents. Excludes issues of less than $25 million and general corporate purposes. Historical data was restated on November 10, 2021, to
reflect updated methodology. Percentages may not sum to 100% due to rounding. Source: Dealogic.
Reported data as of September 30, 2023.
2.
3. Other includes Shareholder Payments, Working Capital and Capital Spending.
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3Q 2023 Investor Presentation
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