11. Freenet

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Ticker:  FNTN

Industry: Telecoms

Net debt to EBITDA: 3.4x

Freenet's debt to EBITDA rate is among the lowest on Deutsche Bank's list, but is still elevated. The company has around €600 million maturing in the 2020-21 financial year.

10. JD Wetherspoon

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Ticker:  JDW

Industry: Hospitality and leisure

Net debt to EBITDA: 3.7x

British high street pub icon Wetherspoons — whose founder Tim Martin is a big Brexit backer — has produced solid results in the two years since the vote, but needs to replace all its debt before the end of February 2020.

9. Cemex

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Ticker: CX

Industry: Building & Construction

Net debt to EBITDA: 4.1x

Cemex, the world's second largest seller of building materials needs to refinance at least 1/3 of its debt in next three years, with an average rate of 6%.

8. Michaels Companies

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Ticker:  MIK

Industry: Consumer goods

Net debt to EBITDA: 4.5x

Michaels Companies, America's arts and crafts retail chain, has "$2.7bn of gross debt of which $2.25 is a variable term loan maturing 2020 at LIBOR+," according to Deutsche Bank.

7. Navistar

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Ticker:  NAV

Industry: Industrials

Net debt to EBITDA: 4.6x

Navistar, which manufactures coaches and schoolbuses, has around 30% of its debt at variable rates, leaving it particularly exposed.

6. Anheuser Busch InBev

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Ticker:  ABI

Industry: Brewing

Net debt to EBITDA: 5.0x

The world's biggest brewer by some distance has a huge debt pile, thanks in part to the debt it took on in order to acquire SAB Miller, then its biggest competitor, in 2016. $23 billion of its $100 billion debt will mature in 2018-2020.

5. Two Harbors Investment Corporation

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Ticker:  TWO

Industry: Mortgage REITS

Net debt to EBITDA: 5.9x

A major investor in residential mortgage-backed securities, residential mortgage loans, mortgage servicing rights, commercial real estate debt and related assets, 99% of Two Harbors' debts are based on the LIBOR rate, leaving them highly exposed to rising rates.

4. Party City Holdco Inc

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Ticker:  PRTY

Industry: Consumer goods

Net debt to EBITDA: 6.2x

Party City, which sells party supplies has "$1.79B in gross debt which includes $1.2B variable term loan at LIBOR+ maturing 2022," according to Deutsche Bank.

T=2. Scientific Games Corp

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Ticker:  SGMS

Industry: Gaming

Net debt to EBITDA: 6.6x

Scientific Games supplies casinos and lotteries with gambling products and services. It has $8.1 billion of gross debt, of which $3.2 billion is LIBOR based. 

T=2. Annaly

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Ticker:  NLY

Industry: Mortgage REITs

Net debt to EBITDA: 6.6x

Annaly, which is another large real estate investment trust, has 99% of its debt based on LIBOR. Deutsche Bank says its "book value hit by 5.8% for every 50bps change in rates."

1. AGNC Investment Corporation

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Ticker: AGNC

Industry: Mortgage REITs

Net debt to EBITDA: 8.1x

Like both Annaly and Two Harbors, 99% of its debt is based on LIBOR. It will take a 2% hit to its book value for every 0.5% rate hike.