The single biggest theme for the local markets has been a growth in the debt requirements of companies like Westfield, Woolworths and Coca-Cola Amatil. While these corporates used to do a deal once every few years, they have now become frequent debt issuers. They are actively surveying the markets all the time. This means that the fixed-income business is far more dynamic as borrowers look for the best issuing opportunities whether it be doing a deal locally, or going offshore to the US, European and Asian markets.
Australian issuers have needed to go offshore because it has been difficult to do...
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