Europe turned to for debt funding
(23 April 2012 – Australia) The big four domestic banks have turned back to the European debt markets to source their funding with figures showing debt issuance in Euros is already double the total amount raised in 2011.
Due to the banks’ ability to issue covered bonds, Europe has become a key funding source with 11 deals completed in 2012 already between Australian banks and Europe, raising €7.2 billion (A$9.2 billion).
However, the ongoing concerns over Greece, Italy and Spain mean access to funding at prices attractive enough for the banks will remain patchy.
However, the ongoing concerns over Greece, Italy and Spain mean access to funding at prices attractive enough for the banks will remain patchy.
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