Back in Newton, Mass. for this year’s MIT Sloan CFO Summit. I will be moderating a panel on leadership at noon, interviewing the CFOs of Delta Air Lines, Honeywell and GE about the impact of high interest rates, AI and geopolitics on their businesses. Looking forward!
Refinancing at Current Rates Doesn’t Make Sense, Costco CFO Says
Costco is considering repaying a $1 billion bond maturing in 2024 with cash and won’t be buying back any debt ahead of its maturity, CFO Richard Galanti said, adding that refinancing at current rates doesn’t make sense.
Marsh & McLennan CFO Says Investors Favor Long Blue-Chip Bonds
There’s still plenty of reason for companies to sell long-term debt as policymakers signal US interest rates could remain higher for longer, Marsh & McLennan CFO Mark McGivney tells me for Bloomberg News.
Brookfield’s CFO Says Private Credit and Banks Can Co-Exist
Brookfield sees private credit firms and banks working together in the $1.5 trillion market, even as direct lenders continue to fill the gap left by their counterparts.
U.S. Companies Scramble to Cuts Costs, Pay Down Debt as Interest Rates Surge
As the Federal Reserve signals it will likely tighten the money supply further, finance executives are scrambling to cope with the impact of more than a year of central bank rate hikes, taking steps like cutting costs and paying down debt.
Cheniere Looks to Leverage Blue-Chip Rating to Refinance at Parent Level
LNG terminal operator Cheniere plans to refinance more debt held by its project arms with funding procured by the parent company following its first deal as a highly-rated business this month.
Corporate America Hit by Rate-Sticker Shock
Interest costs at US companies rose by nearly 20% on average in the first quarter compared to a year earlier. That sticker shock is leading some businesses to look for savings, while others are tapping new, alternative funding sources.
Debt Ceiling in Focus as Banking Turmoil Persists
As the regional bank turmoil continues and markets digest the Federal Reserve’s latest interest rate hike, investors and executives are turning to the next big question: What if lawmakers fail to resolve the standoff around the U.S. debt ceiling?
Marriott Plans to Turn to Bond Markets Again This Year, CFO Says
Marriott plans to tap the debt markets again this year to raise funding for upcoming maturities “as market conditions allow,” finance chief Leeny Oberg tells Bloomberg News.
Inflation Has Firms Using Derivatives to Lock In Funding Costs
U.S. companies are turning to derivatives to lock in future borrowing costs, as CFOs worry that financing will grow more expensive amid stubborn inflation, even if markets are bracing for rate cuts in 2023.