THE US private placement corporate bond market is attracting an increased number of Australian companies, offering long-term money with attractive yields. The number of private placements by Australian issuers in the US jumped from 12 to 23 last year, with the total funds raised increasing from $US2.4 billion ($3.12 billion) to $US4.1 billion ($5.33 billion).Private placements do not require a credit rating and the market is open to borrowers that are below investment grade. The market provides fixed-rate funding for terms of from seven to 15 years, which is rarely available in the Australian market.
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