Thursday, June 3, 2010
Global infrastructure lenders flock to Australia
International lenders are seeking out Australian infrastructure projects built with the government as they offer returns amid a “flight to quality,” according to Royal Bank of Scotland Group Plc.
About 30 banks, including ones from Singapore, Japan and Europe are willing to lend to public private partnership projects in Australia, Steve Hughes, RBS’s head of corporate debt capital markets and syndicate, said at a briefing in Sydney yesterday.
Australia’s economy skirted recession and policy makers expect growth to almost double in the next two years as China’s resources demand spurs mining investment. The nation has an infrastructure backlog of more than A$770 billion ($654 billion), industry body Infrastructure Partnerships Australia wrote in a May 11 statement.
Exports excluding farm goods surged by the most in almost three decades in April as shipments of iron ore and coal to China pushed the trade balance to a surplus for the first time in 12 months, the Bureau of Statistics said in Sydney today.
-Bloomberg BusinessWeek
For the full story: www.businessweek.com
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