Partner Tessa Hoser and Associate Livia Li discuss the lending
and secured finance environment in Australia.
The following article appeared in the 2015 edition of The International Comparative Legal
Guide to: Lending & Secured Finance. This was first
published by Global Legal Group
Ltd, London, and is reproduced with permission.
1 Overview
1.1 What are the main trends/significant developments in
the lending markets in Australia?
The main commercial trend in the Australian lending market in
2014 was a move by borrowers towards the debt capital markets and
away from bank funding. Specific trends noted included:
- Growth in debt capital markets both in terms of domestic
issuers and offshore issuers (the so-called "Kangaroo"
bond market). Smaller corporates have used the domestic bond market
to diversify their funding sources and reduce their borrowing
costs. Larger senior unsecured issues have been undertaken by
domestic and offshore corporates, banks
