$4.3 Trillion in Corporate Debt Matures by 2031 as Treasury Yields Clear 5%

Corporate borrowers face $4.3 trillion in bond maturities between 2027 and 2031, Reuters reported September 25, with the 10-year Treasury yield above 5% for the first time since 2007 raising the cost of every dollar refinanced.

Why it matters: Suppliers extending terms to leveraged borrowers should review credit limits now, before 2027 refinancing costs hit.

What is driving the 2027-2031 corporate debt maturity wall

Debt issued when rates sat near zero is maturing into a market where borrowing costs have not been this high in nearly two decades, and where U.S. corporate bankruptcies already sit at a 16-year high.

• Annual U.S. corporate bond maturities climb from $572 billion in 2027 to $1.03 trillion in 2030, according to LSEG data cited in Reuters’ September 25 report.
• Global debt across households, governments, and corporations topped $365 trillion in the first half of 2026, a $10 trillion increase in six months and the sixth consecutive quarterly record, the Institute of International Finance reported.

Which borrowers face the steepest refinancing costs

High-yield issuers carry a disproportionate share of the coming maturities and the least room to absorb higher rates, the same segment where private credit defaults are already climbing.

• High-yield bond maturities jump from $68.5 billion in 2027 to $314.1 billion in 2029, rising from 12% to 33% of total maturities in that span.
• A PIMCO bond fund manager told Reuters that coupons on CCC-rated bonds could roughly double if refinanced at current index yields.
• Investment-grade maturities also rise, from $437 billion in 2027 to $512.6 billion in 2029, but those borrowers typically refinance at a fraction of high-yield spreads.

Why do large-cap borrowers face less risk from the same maturity wall

Not every borrower behind the $4.3 trillion figure carries the same risk, and the difference comes down to why they are issuing debt.

• Goldman Sachs projects hyperscaler debt issuance from Amazon, Alphabet, Meta, Microsoft, and Oracle will reach $420 billion in 2027, a 60% increase from 2026 that funds AI infrastructure, not refinancing distress.
• That gap, growth issuance versus survival issuance, is where suppliers should concentrate credit review. Balance-sheet strength varies sharply within the same maturity wall.

What to do now

Suppliers and creditors have a two-year runway to reassess exposure before the heaviest maturities land in 2029 and 2030, the same runway Hughes Network Systems’ bondholders are already racing against.

1. Pull a current list of counterparties carrying high-yield or CCC-rated debt maturing in 2027 through 2029 and flag them for a credit limit review.
2. Request updated financials from any counterparty refinancing debt in the next 24 months, particularly where the coupon is likely to reprice materially higher.
3. Tighten payment terms or consider credit insurance coverage on receivables from borrowers with limited refinancing flexibility.
4. Contact Securitas Global Risk Solutions to discuss trade credit insurance coverage for receivables tied to counterparties under near-term refinancing pressure. Reach the team here.

Disclaimer:
This blog post is meant to be informative and provide helpful tips and insights into credit insurance policies. It is not meant to supersede any policy requirements. Please consult your credit insurance policy for all requirements including claim filing deadlines and required documentation.

Since 2004, Securitas Global Risk Solutions, LLC has helped clients develop trade credit and political risk transfer solutions. As an independent brokerage, Securitas is focused on developing comprehensive solutions that meet client needs, ensuring a complete understanding of policy wording and delivering excellent responsive service. If you want to understand how trade credit insurance can protect your business, contact Securitas Global Risk Solutions to speak with a specialist.