The report is based on a combination of questionnaires and detailed follow up conversations with CFOs, treasurers and other senior finance professionals to provide detailed insights into how UK plc is feeling about financial market conditions.
Corporate Debt and Treasury Report 2019
✓ Corporates are understandably pessimistic about the short term economic impact of Brexit but bullish that Brexit will not affect their ability to raise debt
✓ Bank lending remains the bedrock of corporate debt capital structures but relationship banking is under greater strain than ever as banks chase ancillary business
✓ Corporates face material risks in connection with the phasing out of IBOR rates and little progress has been made in settling substitute rates
✓ Alternative non-bank lending continues to grow in significance and is at least as important as the DCM and private placement markets for many corporates
✓ Over two-thirds of increased borrowing this year will be applied towards business investment demonstrating business confidence
✓ The focus on Environmental, Social and Governance principles has accelerated dramatically over the last 12 months and is set to increasingly appear on the corporate treasury agenda
