In partnership with the Herbert Smith Freehills LLP (HSF), we are delighted to share this year's Corporate Debt and Treasury Report with you.
Key conclusions from our 2025 analysis:
Macro-economic landscape: Launched in January this year, the Corporate Debt and Treasury Survey reflects respondents' views amid early-year macro-economic volatility. There was an increase in respondents reporting a material negative outlook for the year from geo-political and macro-economic events, and a remarkable decrease in the number of respondents reporting that those events had no/minor impact on their debt strategies. The data shows a polarisation of responses, however — whilst more respondents are anticipating the need to increase debt for acquisitions, there has also been an increase in those anticipating the need to reduce debt or disposing of assets.
Interest Rates: Although interest rates have not fallen as quickly as many expected, corporates are managing the high costs of debt and some are planning investments, both organically and through M&A.
Treasury Focus: A strong emphasis on "Treasury 101s" is evident, with 91% of respondents prioritising cash management.
We hope you find these results informative and we would like to thank those who participated in our research. In particular, we are grateful to those who took part in our follow-up interviews to discuss the survey results.
Please contact us if you have any comments on the report or would like to discuss any of the themes raised.
