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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

Published Thu, Feb 23, 2017 · 09:50 PM
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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 whopping A$21 billion in bids at the clearing margin of 14 basis points over 10-year bond futures.

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