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.
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.
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.
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.