Regarded by issuers as a lower cost fundraising alternative in a low interest rates environment and by investors as a high yielding instrument at a time when yield has been wiped out in the regular corporate bond space, 2016 is shaping up to be the year of the hybrid bond.
The ongoing slump in oil prices is seeing a retreat in sovereign wealth fund (SWF) assets in the commodity-based states of the Gulf region. With oil prices forecast to see limited upside potential over the medium-to-long term - owing to major project start-ups and bloated crude and fuel inventories - we do not expect these state-backed investment vehicles to enjoy a fresh influx of support from...
Under pressure from the Australian Prudential Regulatory Authority (ARPA) to boost their capital reserves at a time when credit growth is slowing across the banking sector, Australia's lenders are in a rush to raise capital and investors in the debt capital markets (dcm) arena are proving to be the benefactors.
The golden days of Australian inbound M&A activity seen as recently as in 2011 have been moving further away in the rear view mirror over the past year. After four consecutive quarters of decline in announced dealmaking in Australia, however, we are starting to see signs of life in inbound merger activity once more thanks largely to the bearish outlook for the local currency.
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Thanks, BMI Research