Australia

Details

  • Service: Advisory, Transactions & Restructuring, Risk Consulting, Financial Risk Management
  • Industry: Financial Services
  • Type: Business and industry issue
  • Date: 13/02/2014

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: Q4 2013 

A late flurry of deals in November and December has delivered the strongest quarter, and full year issuance in the Australian bank market. The volume achieved in Q413 surpassed the results from late 2007, whilst annual results breached the US$100bn mark, representing a 25 percent increase from 2012.
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There were 12 deals in excess of A$1bn, spread amongst various sectors including healthcare, property, PPPs, and utilities and financial institutions.

 

Most prominent amongst these include:

  • Origin Energy’s A$6.6bn refinance (3rd largest deal since 2007)
  • AquaSure’s (Victorian Desal) A$3.7bn refinancing
  • Lend Lease’s A$3.3bn deal
  • Energy Australia’s A$2.1bn refinance.

 

Key themes

  • Largest quarter on record in the Australian loan market, matched with significant price improvements for borrowers.
  • Virgin Australia debuts innovative structured financing solution.
  • Debt advice for those considering IPOs.
  • Rating agency methodology changes, a potential positive impact for borrowers.
 

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