It’s an understatement to say deal flow remains very strong in the debt capital markets. Lenders and service providers are beyond capacity, not unlike what the global economy is experiencing with supply chain issues. The result is volumes at record levels and the ability for issuers to obtain most advantageous terms. Inflation, supply chain concerns, and COVID-19 variants will continue to cause some volatility in the near term. For the time being, though, we continue to recommend companies assess their capital structure and determine if more permanent solutions should be enacted in today’s issuer-friendly environment.