Markets Mindset: Q2 2026 Leveraged Finance: Software Sector Impact

Within leveraged finance, there has been a shift in activity in term loan B, high yield and CLO markets as the industry contends with the resetting of software valuations as a result of the AI disruption. In the middle of this uncertain environment, what should leveraged finance investors and issuers know moving into the next quarter? In our latest episode of Markets Mindset, Mizuho Americas’ Head of Leveraged Finance, Jeb Slowik, is joined by Managing Director of Leveraged Finance, Jim Boland, and Head of U.S. CLO trading, Stefan Kullberg, for a discussion on how the software sector has impacted leveraged finance markets this past quarter.Our guests give their insights into their respective markets to provide clarity around:How software is influencing CLO market trendsHigh yield market strengthThe sustainability of refinancing private credit The health and stability of the AAA bid in the CLO marketThe trajectory of the new issue and secondary marketsHear from our experts as they analyze the state of leveraged finance and offer their views on which KPIs investors and issuers should watch in the months ahead.