Details

  • Service: Advisory, Transactions & Restructuring, Corporate Finance, Topics, Capital Management
  • Industry: Financial Services
  • Type: Business and industry issue
  • Date: 12/11/2012

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 2012 

In the last quarter, we have seen declining cash rates combined with continued global equity market volatility that have incentivised investors to consider alternative options including instruments that provide relatively longer tenors and higher yields.
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    Bonds have become the preferred form of liquidity in Q3 2012 with 57.8 percent of volume generated from corporate bonds compared to syndicated loans. Hybrid issuances also featured prominently in the quarter.

     

    Key themes

    • Australian loan market struggles to build momentum.
    • Deal of the Quarter: Silver Chef taps AUD corporate bond market.
    • Continuing funding divergence between the 'haves' and the 'have nots'.
    • Resurgence in hybrid volumes sees record highs.
    • LIBOR rigging and the local implications.
 

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