| Headline: Australia - Corporate bond market takes off Source: Euromoney Date: March 2000 Author: Peter Lee Radical change is under way in Australian financial markets. A booming economy, prudent fiscal policy and privatization have led to the paying back of government debts. Fund managers are flush with superannuation money that must be put to work. Meanwhile banks are keen to lead structured loans and build mortgage loan books, but less happy with returns on straight corporate credits. So Australian companies are turning to bond markets for their funding. This time, it seems, the Australian corporate bond market is here to stay. Peter Lee reports
"This country changed the destination of its exports very quickly from Asia to Europe," says Yasuhiro Takama, managing director of Nomura Australia and a long-time promoter of Australian bonds to Japanese investors. |