Issuers priced $23 billion in junk bonds in August, the seventh largest monthly U.S. high yield volume on record, according to Dealogic.

August is normally a slower time for high yield bond issues, accounting for the slowdown later in the month. In fact, the last junk bonds that priced on the primary market in the month did so on August 20.

July saw $15.8 billion in junk bond issues after a slow May and June of $6.8 billion and $8.2 billion respectively. The record month so far this year was March, which had $36.7 billion in junk bonds issued. April saw $34.2 billion in high yield deals.

So far this year, issuers have priced more than $157.4 billion in high yield bonds in 344 deals, putting this year on pace to exceed last year’s total record-breaking issuance of $163.6 billion.

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