Two local issuers last week followed Apple's lead with seven-year Australian dollar bonds, reawakening an area of the curve that had been relatively quiet until the US tech giant's recent Kangaroo offering. The trades from Melbourne airport and telstra took advantage of strong appetite from yield-hungry investors and were only the sixth and seventh domestic seven-year medium-term-note offerings of the year. Just two of those have come from Triple B rated issuers, with ConnectEast, rated Baa2 (Moody's), and Downer, rated BBB (Fitch), raising A$550m (US$385m) between them.
展开▼
