Debt Market Update: Q1 2015

Debt Market Update: Q1 2015

The first quarter of 2015 saw a material drop in domestic syndicated loan volumes with issuance of US$7.0 billion across 20 transactions, a 50 percent drop on Q1 2014 volumes and the fourth lowest quarter in the last 10 years. 12-month rolling average volumes decreased to US$99 billion.

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KPMG Australia

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Debt Market Quarterly Update: Q1 2015

Three infrastructure transactions dominated – ConnectEast’s $1,035 million project financing, AMP’s $1,044 million acquisition financing for Royal North Shore Hospital and SDP Finco’s $1,656 million refinancing – and were the only ones above $1 billion.

Key themes

  • Australian debt market issuance hiccups…but corporate issuance abroad increases 
  • The deal of the quarter – APA Group demonstrates successful issuance off-shore with US$3.7 billion 
  • Australians issuing off-shore – lots of success but beware some finding pricing unresponsive 
  • ASIC’s probe into BBSW setting practices coming to a head 
  • Australian interest rates – more downward trending and still significant yield curve inversion 
  • The ECB launches its quantitative easing programme 
  • More clarity in developing retail bond market disclosure obligations – a new potential source of liquidity.

Key themes

  • Australian debt market issuance hiccups…but corporate issuance abroad increases
  • The deal of the quarter – APA Group demonstrates successful issuance off-shore with US$3.7 billion
  • Australians issuing off-shore – lots of success but beware some finding pricing unresponsive
  • ASIC’s probe into BBSW setting practices coming to a head
  • Australian interest rates – more downward trending and still significant yield curve inversion
  • The ECB launches its quantitative easing programme
  • More clarity in developing retail bond market disclosure obligations – a new potential source of liquidity.

Key themes

  • Australian debt market issuance hiccups…but corporate issuance abroad increases
  • The deal of the quarter – APA Group demonstrates successful issuance off-shore with US$3.7 billion
  • Australians issuing off-shore – lots of success but beware some finding pricing unresponsive
  • ASIC’s probe into BBSW setting practices coming to a head
  • Australian interest rates – more downward trending and still significant yield curve inversion
  • The ECB launches its quantitative easing programme
  • More clarity in developing retail bond market disclosure obligations – a new potential source of liquidity.

Key themes

  • Australian debt market issuance hiccups…but corporate issuance abroad increases
  • The deal of the quarter – APA Group demonstrates successful issuance off-shore with US$3.7 billion
  • Australians issuing off-shore – lots of success but beware some finding pricing unresponsive
  • ASIC’s probe into BBSW setting practices coming to a head
  • Australian interest rates – more downward trending and still significant yield curve inversion
  • The ECB launches its quantitative easing programme
  • More clarity in developing retail bond market disclosure obligations – a new potential source of liquidity.

Key themes

  • Australian debt market issuance hiccups…but corporate issuance abroad increases
  • The deal of the quarter – APA Group demonstrates successful issuance off-shore with US$3.7 billion
  • Australians issuing off-shore – lots of success but beware some finding pricing unresponsive
  • ASIC’s probe into BBSW setting practices coming to a head
  • Australian interest rates – more downward trending and still significant yield curve inversion
  • The ECB launches its quantitative easing programme
  • More clarity in developing retail bond market disclosure obligations – a new potential source of liquidity.

Debt Market Quarterly Update

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