SYDNEY, Sept 22 (Reuters) - Australia's Queensland Treasury Corporation (QTC) said it plans to sell long-term debt to lock in attractive terms amid falling interest rates and a global hunt for yield.
QTC Head of Investor and Government Relations Richard Jackson said Australian dollar bonds would continue to be the predominant funding vehicle because they cost the least.
Estimates show it would cost QTC around 30 to 40 basis points more to raise foreign currency denominated debt, such as U.S. dollars, largely due to the currency swap into Australian dollars.
QTC, financing arm of the state of Queensland, is among the largest Australian borrowers with around A$84 billion ($64 billion) of debt on issue, while the sovereign has A$436 billion.