News
Australian corporate borrowers have every reason to favour debt capital markets over bank loans for their funding needs in 2023. Risk events and the economic outlook mean caution remains the order of the day domestically, however, and while deal flow is likely to pick up market participants acknowledge that global options are providing strong competition.
The ANZAC day public holiday early in the week and the Australian quarterly inflation print on Wednesday meant Australasian primary deal flow was limited in the week ending 28 April. Still, high-grade activity continued, with a A$2.5 billion (US$1.7 billion) syndication from New South Wales Treasury Corporation and World Bank's A$500 million increase to its April 2033 sustainable development bond.
