Quarterly US Covenant Trends & Outlook: Leveraged Loans and High Yield Bonds

April 22, 2026

CreditSights experts present a Q1 2026 update examining how U.S. leveraged loan and high‑yield bond documentation is evolving amid heightened market volatility. The discussion focuses on shifting investor leverage, covenant pushback in new issuance, and how geopolitical risk, refinancing activity, and liability management transactions are shaping documentation outcomes across the credit markets.

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Speakers:

Kerry Kantin, US Bureau Chief, LevFin Insights
Jessica Reiss, Head of U.S. Loans Research, Covenant Review
Anthony P. Canale, Global Head of Research, Covenant Review

Timestamps:

00:00 – Introduction
01:05 – Sealed Air Covenant Pushback
04:45 – Lender Resistance Trends
07:55 – High Yield Covenant Issues
10:40 – Audience Poll & Discussion
18:25 – Portability and Change of Control
43:20 – Conclusion & Key Takeaways