Knowledge@ASB: Capital Raising: Is debt back?

The financial crisis forced many large Australian corporations to change their approaches to debt. A number have been looking to the US markets to meet their funding needs, while others – such as the Commonwealth Bank of Australia – are keen to reduce reliance on offshore markets by developing a local retail corporate bond market to help with capital raising problems. But industry players suggest the Australian market will continue to lack the depth to meet big corporates' long-term requirements for capital, and there are signs that some have short memories.