Explore stories from Atlantic Canada.
Savoring Success with Taste Nova Scotia Culinary Ambassador Amy Savoury | SaltWireSYDNEY - Private credit lenders are increasing their footprint in parts of the Australian commercial property market, providing alternatives for borrowers as banks scale back higher-risk lending amid a slowdown brought on by elevated interest rates.
U.S.-based PGIM Real Estate expects to deploy a further $1 billion in the country over the next few years, said its head of Australian real estate Steve Bulloch. At roughly 5% of all financial assets in 2022, non-bank lenders are a minnow in Australia compared to the International Monetary Fund's estimate of 50% globally.
Yet non-bank lenders are a welcome source of credit at a time when banks have slowed lending to sections of the property sector historically seen as high risk like construction, Notaras said. More prudential scrutiny and less risk appetite has led major banks to prioritise blue-chip property companies, Qualitas co-founder Andrew Schwartz said.
Bonds are out of reach for many unrated mid-market borrowers and property-related bond issuance is at record lows, with A$299 million raised the year to September, about a tenth of the decade average, according to Dealogic data.Even for alternative lenders, the most beleaguered segments, such as office and retail, remain tough propositions as higher rates slash prices and home working and online shopping scramble the outlook for rental growth.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Board of GM's Cruise reviewing regulatory response, technologyExplore stories from Atlantic Canada.
Lire la suite »
Honduras recalls ambassador to Israel for consultationsExplore stories from Atlantic Canada.
Lire la suite »
Colombia, neighbors to jointly push six key points in COP28 -ministerExplore stories from Atlantic Canada.
Lire la suite »
El Salvador electoral tribunal green lights Bukele's re-election bidExplore stories from Atlantic Canada.
Lire la suite »
US agency proposes allowing carbon capture projects in national forestsExplore stories from Atlantic Canada.
Lire la suite »
Honduras recalls ambassador to Israel for consultationsExplore stories from Atlantic Canada.
Lire la suite »