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Cheap Debt Evaporates for Junk Companies in Oil’s Cruel Summer

By Tony Seruga

The weakest corporate borrowers are finding the days of free-flowing credit quickly evaporating.

A gas station attendant pumps gas into an SUV at a Shell gas station in Jersey City, New Jersey.

A gas station attendant pumps gas into an SUV at a Shell gas station in Jersey City, New Jersey.

Photographer: Emile Wamsteker/Bloomberg News

The weakest corporate borrowers are finding the days of free-flowing credit quickly evaporating.

The $39.6 billion of junk-rated bonds and loans issued since July is the least since the summer of 2008, according to data compiled by Bloomberg. For those that are coming to market, many are paying up or struggling to find buyers at terms they can stomach…

Cheap Debt Evaporates for Junk Companies in Oil’s Cruel Summer

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