Amol Dhargalkar in WSJ on early refinancing amid market shifts
Summary
Amol Dhargalkar, Chairman and Managing Partner at Chatham Financial, was featured in The Wall Street Journal discussing why companies are increasingly choosing to refinance debt earlier than planned amid shifting market conditions.
The Wall Street Journal - January 22, 2026
Companies Move to Refinance Sooner: ‘Better Off to Lock It In’
As interest rates decline and credit markets remain supportive, many companies are opting to act proactively rather than wait for potentially better conditions. With economic uncertainty driven by inflation concerns, fiscal policy shifts, and geopolitical risks, borrowers are prioritizing certainty over timing the market. Corporate refinancing activity reached approximately $425 billion in 2025—the highest level since 2020—as companies moved to secure favorable terms and extend maturities.
Dhargalkar emphasized that today’s environment is less about optimizing for the absolute lowest rate and more about managing risk and locking in known conditions.
“If you can get out now and do something now, that is 100% the desire,”
Amol said, highlighting the growing preference for decisiveness over precision.
He further noted that companies are not necessarily increasing leverage, but rather acting prudently in response to uncertainty.
“You know what the market is right now. And if you waited, who knows what the world could look like?”
This shift reflects a broader strategic mindset across capital markets: securing liquidity and extending runway while favorable conditions persist, rather than risking exposure to future volatility.
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