Longer bonds represent higher share of hyperscaler debt, Lisa Abramowicz notes

Longer bonds represent higher share of hyperscaler debt, Lisa Abramowicz notes
Hyperscaler debt dominated by longer-term bonds

Lisa Abramowicz, journalist and co-host on Bloomberg TV/Radio, reports that over the past year, 43% of hyperscaler debt supply consisted of bonds with maturities greater than 10 years, according to BofA.

By comparison, only 24% of M&A-related debt deals and 23% of other non-financial bond issuances exceeded this maturity. Abramowicz also notes spreads on technology sector debt have steadily widened.

Abramowicz has recently highlighted shifts in major market metrics. She previously noted that the equal-weighted S&P has outperformed the market-cap index by the widest margin since 2020. In a separate report, she observed that NYSE margin debt climbed 136% since October 2023, reaching historic levels. These developments provide context for ongoing discussions about credit trends and risk appetite.

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