Remove 2028 Remove Lending Remove Management Remove Security
article thumbnail

How resilient are UK corporate bond issuers to refinancing risks?

BankUnderground

Paul and Zhou (2018) define refinancing risk as the potential inability of a borrower to secure new financing to replace existing debt coming due. This is in part because the pre-GFC period was characterised by relaxed lending standards, and excessive leverage levels. What is refinancing risk?