NEW YORK — January 27, 2026
Executive Summary
Octus, a credit intelligence and data platform serving buy-side firms, investment banks, law firms, and advisory firms, has released a comprehensive review of the key performing credit market trends that defined 2025, alongside its annual League Tables ranking the firms that led transactions across major credit markets. The analysis draws on Octus’ year-end Americas and EMEA market wraps and covers private credit, leveraged finance, collateralized loan obligations (CLOs), and distressed markets. According to the company, 2025 was characterized by steady issuance volumes, tightening spreads, and continued structural evolution, with private credit further establishing itself as a core financing solution. The release also includes regional and global rankings highlighting transaction activity and execution leadership across the credit lifecycle.
Announcement Overview
Octus announced the publication of its 2025 performing credit market recap, providing a detailed assessment of market activity and structural developments observed throughout the year. The release is accompanied by Octus’ annual League Tables, which rank firms based on transaction volume, activity, and execution across multiple credit segments.
According to Octus, the analysis reflects a year defined by disciplined issuance, selective underwriting, and evolving financing structures, rather than broad-based exuberance. While demand for credit remained resilient across regions, activity was shaped by shifting market windows, refinancing opportunities, and increased prominence of private credit strategies.
The company stated that its findings are based on proprietary data compiled through its year-end Americas and EMEA market coverage. The resulting analysis provides a consolidated view of how performing credit markets evolved globally in 2025 and identifies the institutions that played leading roles across public and private credit markets.
Key Announcement Details
- Announcement type: Market analysis and annual rankings release
- Reporting period: Full year 2025
- Covered markets: Private credit, leveraged finance, CLOs, distressed credit
- Geographic scope: Global, with Americas and EMEA focus
- Included materials: Market trends recap and League Tables rankings
- Publisher: Octus
- Release date: January 27, 2026
Strategic Context
According to the company, 2025 represented a pivotal year for performing credit markets, marked by steady issuance volumes and tightening pricing conditions. Octus’ analysis indicates that private credit continued to expand beyond traditional sponsor-backed transactions into areas such as investment-grade credit, asset-based lending, and specialty finance.
The company reported that competition for assets intensified amid lower-than-expected merger and acquisition activity and increased overlap between private credit and broadly syndicated loan (BSL) markets. In response, leading firms differentiated themselves through scale, structuring capabilities, and certainty of execution.
Octus also highlighted the growing role of business development companies (BDCs) within private credit strategies. According to the company’s data, BDC assets increased significantly year over year in 2025, while indicators such as non-accrual loans reflected evolving risk dynamics within portfolios.
Across public markets, Octus observed robust issuance levels driven largely by refinancings and repricings, as issuers responded to declining interest rates and strong investor demand, particularly from CLO vehicles.
Leadership Statement
“Across the market, there’s a clear convergence taking place as private credit and BSL analysts now work on the same floor, sharing knowledge to make the best decisions for their clients,” said Kent Collier, CEO of Octus. “The ability to look at more deals, irrespective of the market, has become a top differentiator in an increasingly spread-compressed market. Having support across buy side and direct lending teams, portfolio management, fundraising, and private wealth channels means the biggest managers may continue their momentum for the next 12 months.”
Regional and Market Highlights
According to Octus, issuance volumes in 2025 remained resilient across regions, though activity patterns varied. In the United States, the company observed a credit environment shaped by volatility and rapid shifts in issuance windows. Leveraged loan volumes surged early in the year before moderating amid tariff-related disruption and broader market volatility. Refinancings and repricings accounted for a substantial portion of activity, while new-money transactions tracked subdued M&A conditions.
In Europe, Octus identified greater pricing discipline and relative value, which supported sustained investor interest. The company reported that high-yield bond and leveraged loan issuance reached record levels, supported by selective underwriting and asset scarcity. Continuation funds and GP-led solutions were cited as increasingly common as sponsors adapted exit strategies to slower transaction markets.
CLO issuance was reported to be strong on both sides of the Atlantic, with Octus noting record issuance levels in Europe and sustained momentum in the U.S., including increased private credit CLO activity.
Octus League Tables Overview
Octus’ 2025 League Tables provide rankings across the credit lifecycle, including advisors, direct lenders, CLO managers, arranging banks, and legal advisors. The company stated that the rankings are based on transaction volume, activity, and execution metrics and are published globally and by region.
As of January 27, 2026, Octus reported the publication of U.S. and European CLO rankings, European and U.S. direct lending rankings, and Americas restructuring rankings. The League Tables are intended to serve as an independent benchmark of market leadership across performing credit markets.
The company noted that all rankings reports are available for download on its website and provide detailed insights into performance across both U.S. and European markets.
About Octus
Founded in 2013, Octus is a provider of credit intelligence, data, and workflow solutions for buy-side firms, investment banks, law firms, and advisory firms. The company combines human expertise with technology, data, and AI-enabled tools to deliver verified intelligence across the credit lifecycle.
Octus supports market participants with insights spanning private credit, leveraged finance, CLOs, and restructuring. The company operates globally and serves clients across major financial markets. Additional information about Octus is available at its corporate website.
Media Contact
Drake Manning
Email: drake.manning@octus.com
Mike Deleo
Email: OctusPR@icrinc.com
Source Attribution
Source: Company announcement
