Bank of Queensland Ltd. , the regional Australian lender formed in 1874, sold A$1.6 billion ($1.4 billion) of residential mortgage-backed bonds in the nation’s biggest sale of the securities this year.
Australian non-financial companies are selling the most bonds locally in four years while extending maturities as investors seeking alternatives to bank debt become increasingly willing to buy longer-dated notes.
National Australia Bank Ltd. is planning a sale of dollar-denominated debt as the nation’s lenders boost offerings in the U.S currency to the most in 45 weeks. Corporate bond risk in Australia and Japan fell.
Bond sales in Australia climbed to a record for the first half after banks, companies and top-rated foreign borrowers took advantage of yields that dropped to a three-year low relative to government debt.