A trio of dealmakers have hopped on stage at The Australian Financial Review Banking Summit for a conversation with Street Talk co-editor Anthony Macdonald and the mood has turned very bullish
Morgan Stanley managing director Richard Wagner says Australia’s good track record in keeping COVID-19 contained meant the local economy is already operating in what feels like a “post-vaccine environment”.
“The world is looking to [Australia] as to how companies are operating post-COVID... The mood is excellent.“
Jarden Australia managing director Sarah Rennie, who is one of the country’s top equity capital markets banker, says there is plenty of optimism among sharemarket investors. This is playing out particularly well for companies needing to raise capital to pounce on takeover targets.
“Acquisition funding for listed stocks is being very well supported,” she says.
During the height of the pandemic investment bankers were playing raisings very safely, and only kicking off raisings if the bankers were very confident of getting the capital they needed.
“I think that is pivoting back … investment banks are taking on a bit more risk... but that’s easy given the support in the market.“
On the debt side, Skye Capital’s Kelly Morton says markets are “definitely open” for funding mergers and acquisitions.
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