Banks need new funding ideas
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BN
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29/07/2010 5:00:00 AM
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Australian banks may need to find new ways to secure funding, with growing fears that global demand for Australian commercial debt could start to decline.
The Australian reports that Westpac chief financial officer Phil Coffey said global investors may choose to shoulder less of the debt in future as they reached the limits of their investment mandates.
This was despite Australian banks being some of the most active issuers of debt on global markets during the last 12 months, as they moved to shore up their funding using international markets.
Westpac issued $3.3bn worth of debt in the US this week, while NAB managed to raise $1.3bn in Japan and Europe last week.
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