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Australian banks gobble up record A$11b bond feast

The 2.75% coupon November 2028 debt issue gets A$21b in bids; 85% sold domestically

Sydney

AUSTRALIA sold a record A$11 billion (S$12 billion) of debt this week thanks to insatiable demand from local banks, calming market worries about the impact that losing its coveted triple-A rating could have on Australia's debt.

The new November 2028 bond issue received a

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