US insurers seek Australian company debt deals – Brisbane Times

Australian companies hunting for bespoke debt deals are finding willing lenders in the Americas, where low interest rates have prompted investors to venture further abroad for yield.

With nearly 40 per cent of the world’s bonds yielding less than 1 per cent, North American insurers thirsty for income are ramping up their lending to companies Down Under looking for longer-dated debt that may be hard to secure in public bond markets. Insurance firms such as TIAA, with $US938 billion in assets, are drawn to Australia’s stable economy and opportunities to help fund companies across sectors such as infrastructure and property.