Source item

A lot of lending to small/midsize companies is for a term of 5 to 7 years. A great deal of debt issued 3/2020 to 9/2021 is therefore coming due these days. UST interest rates were near zero in that issuance time window. They are much higher today. The consequence of those stupidly low rates back then is coming home to roost now with debt roll needs by small/midsize companies.