Australia Sells A$9.3 Billion of Bonds in Biggest-Ever Sale
- Government prices new record debt maturing in December 2021
- Sale comes as Australia struggles to rein in budget deficits
This article is for subscribers only.
Australia’s government sold A$9.3 billion ($7 billion) of notes maturing in December 2021, its biggest-ever bond transaction.
The offering was snapped up by investors even as doubts swirl about the country’s top credit rating and the government’s ability to rein in its budget deficit. While credit assessors refrained from taking any action following December’s mid-year budget update, S&P Global Ratings has had a negative outlook on the country since July.