The amount of U.S. corporate debt set to mature through 2025 and rated by S&P Global Ratings has climbed to $5.418 trillion following a record $1.1 trillion in bond issuance in the first half of 2020, the rating agency said.

Financial issuers account for $1.250 trillion of that debt maturing through 2025, which includes term loans and revolving credit facilities, while nonfinancials make up $4.169 trillion. Nearly $2 trillion, or 37%, is speculative grade, while 63% is investment grade.

Annual maturities will hit a peak of $1.15 trillion in 2025, with speculative-grade maturities peaking at $553.8 billion in the same year. Investment-grade maturities will peak in 2023 at $679.2 billion.

Technology leads all nonfinancial sectors with $559.0 billion in debt maturing through 2025, 64% of which is investment grade. Media and entertainment has the second-highest amount of maturing debt with $493.3 billion, followed by consumer products with $407.8 billion.

Globally, a total of $11.862 trillion in corporate debt rated by S&P Global Ratings is set to mature through 2025, with nonfinancial corporates and financial services accounting for 62% and 38% of the maturities, respectively. Seventy-four percent of the total debt is investment grade, and 26% is speculative grade.

"Most of the debt maturing through 2025 is from highly rated issuers, and we expect that debt capital markets will provide more than sufficient funding for these companies to meet maturity demands," S&P Global Ratings said in a separate report published July 27.