Australia

Details

  • Service: Advisory, Transactions & Restructuring, Corporate Finance, Topics, Capital Management
  • Industry: Financial Services
  • Type: Survey report
  • Date: 8/11/2011

Debt Market Quarterly Update

KPMG's Debt Market Update reviews debt market activity and provides insights into the latest trends and the implications for Australian companies.

David Heathcote

David Heathcote
Partner in Charge, Debt Advisory Services

+61 2 9335 7193

dheathcote@kpmg.com.au

Debt Market Quarterly Update: Q3 2011 

In the third quarter of 2011, we saw the global economy remain in a state of fluctuation, and the market’s direction in the near term remains unclear. The Euro-zone debt problems will be a key factor of Q4, 2011, especially considering continued uncertainty surrounding solutions for and the prospect of further sovereign downgrades of Greece.
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In Australia, a flow on effect from global markets is virtually inevitable, with detrimental impacts already being evidenced with reduced volumes and a rebound in pricing.

Key themes
  • Multiple sovereign downgrades across all regions to impact cost of funding globally.
  • Australian loan activity resilient and liquidity remains, however widened spreads evidenced for Australian investment grade credits.
  • M&A debt volumes continue to remain choppy.
  • Dim Sum bond market on the menu of alternative funding options.
 

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