“Ultimately, our strong debt markets performance is a by-product of the changes we have made to better support our clients, ensuring we have a deep understanding of industry sectors and the products and capabilities our clients need as they prepare for the future. Our job is to help our clients – the nation’s biggest businesses and institutions – build Australia’s future economy, and we’re incredibly proud to have been able to support them through one of the most remarkable operating environments in recent history,” Mr Hinchliff said.
CBA share of Australian debt markets issuance 2019-21
(Bonds, syndicated lending & securitisation)
League table position
Mr Hinchliff noted that a second consecutive year of historically high debt issuance volumes by borrowers had been supported by continued low interest rates.
“Market conditions have been welcoming for institutional clients and many of them have taken advantage of the low-rate environment to secure medium and longer term financing. Most notably, the Commonwealth and state governments have had significant funding requirements as a result of COVID-19 and accounted for almost three quarters of total debt issuance. While many clients took advantage of low rates to refinance or secure future funding, we’ve also been able to support transactions for clients in sectors significantly impacted by the pandemic, like aviation,” Mr Hinchliff said.
Mr Hinchliff added that the past financial year had also seen a marked growth in CBA’s clients seeking sustainable finance solutions.
“Our clients have told us that making their organisations more sustainable is one of their utmost priorities. As a result, we have invested in our team accordingly, ensuring we can help them make the transition to the economy of the future.
“We’re incredibly proud of the projects we have been able to support our clients on, including the first public-private partnership green loan for Canberra Metro, the first sustainability linked AUD bond for Wesfarmers and the first sustainability-linked loan for a healthcare corporate for Ramsay Health Care. We also partnered with clients to deliver Australia's largest sustainability-linked loan for ISPT, Australia's largest Green Bond for NSW Treasury Corp and Australia's largest non-financial corporate Green Bond for Lendlease.
“Client demand for these solutions is increasing rapidly and we anticipate working with many more clients on their sustainable finance needs in the years ahead,” Mr Hinchliff said.
Click here to read how CBA is supporting Australia's transition to a sustainable future.
*Source: Bloomberg & Refinitiv