Syndicated loans have become one of the most important sources of debt funding to Australian business, especially in light of an underdeveloped domestic bond market. This paper provides an overview of the Australian syndicated loan market and highlights the lack of a secondary loan trading market. It examines how standardisation of syndicated loan contracts would aid the development of a liquid trading place, and create opportunities for new institutional participants, especially non-banks, to enter the syndicated loan market.
|Journal||JASSA: The Finsia Journal of Applied Finance|
|Publication status||Published - Apr 2014|