"COVID has changed everything," said Seth Meyer, a portfolio manager at Janus Henderson, the firm that compiled the analysis for a new corporate debt index. "Now it is about conserving capital and building a fortified balance sheet".
LONDON: Companies around the world will take on as much as US$1 trillion of new debt in 2020, as they try to shore up their finances against the coronavirus, a new study of 900 top firms has estimated.
The unprecedented increase will see total global corporate debt jump by 12% to around $9.3 trillion, adding to years of accumulation that has left the world's most indebted firms owing as much as many medium-sized countries.
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