The private debt market has been much discussed in Australia but is often defined in narrow terms – for instance as a direct equivalent of the US private placement bond market. Investors say the potential of private debt can only be seen when its true scope is revealed and the reasons for wider funding of these assets understood.
The eighth KangaNews-Westpac Corporate Debt Summit, held in Sydney on 12 September, drew a record crowd once again. As well as providing insights from the heart of the banking, sustainability and economics sectors, there were in-depth discussions around the role of the Australian credit market relative to its global peers and the new open-banking regime, as well as the annual C-suite update.
The fifth annual iteration of the KangaNews-Moody’s Investors Service (Moody’s) Corporate Borrowers Intentions Survey shows a small but significant increase in expectations for debt-capital-markets activity in the year ahead. This comes despite respondents taking a more pessimistic view of prevailing credit conditions.