Sharon Klyne

(Bloomberg) -- Alphabet Inc. is poised to pay just under 7% to borrow longer-dated funds in its debut Australian dollar bond deal, in potentially

Alphabet Inc. is poised to pay just under 7% to borrow longer-dated funds in its debut Australian dollar bond deal, in potentially its highest-ever coupon, underscoring how broader demands for cash among hyperscalers around the world are feeding into more costly funding almost everywhere.

Wealth managers are beating a retreat from private credit and ramping up a search for alternatives, as they continue to reel from sudden exit restrictions at several major direct lending funds earlier this year.

National Australia Bank Ltd. is cutting jobs in its corporate and institutional division as it reorganizes some roles, according to people familiar with the matter.

Private credit investors in Australia’s property market are seeking more transparency from asset managers as the sector grapples with a slowdown and private funds themselves face a probe by regulators over unrealistic valuations.

DigitalBridge Group Inc., a US-based private equity firm being acquired by Softbank Group Corp., will buy one of Australia’s largest smart-meter providers from Ausgrid Group, as demand grows for infrastructure supporting the country’s energy transition.

Bathla Group, a major property developer in Sydney, is leaving private credit investors exposed after falling into insolvency earlier this week in the latest blow to Australia’s troubled housing market.

The downfall of an Australian property developer that borrowed heavily from non-bank lenders is stoking fears that cracks are starting to emerge in the nation’s A$200 billion ($144 billion) private credit market.

Australian private credit funds are trying to contain panic among investors, after the collapse of property developer Bathla Group sparked fears that the industry’s big bet on the property sector is going south.

Insolvent Australian property developer Bathla Group faces a 24-hour timeframe for talks with its creditors to secure short-term funding, according to a person familiar with the matter, in its last-ditch effort to avert collapse.