Pursuits
America Is Beautiful for Aussie Borrowers Shunning Euro Issuance
- U.S. currency bond sales by Australian issuers have jumped 21%
- Cost of switching from U.S. to Aussie dollars more favorable
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Australian bond issuers are lapping up dollar funding at the fastest pace in seven years as the relative attractiveness of the European market wanes.
Borrowers sold $23.1 billion of U.S. currency notes in 2016, up 21 percent from the same period last year and the most since 2009, according to data compiled by Bloomberg. Australian offerings in Europe’s common currency have fallen 53 percent over the same period to 5.79 billion euros ($6.6 billion), the least since 2011.