An Allens Arthur Robinson lawyer has pointed to indications that the appetite for domestic corporate bonds is growing as the firm acts on a $550 million domestic bond issue deal.

Partner James Darcy said that DBP Finance Co Pty Limited's A$550 million

domestic bond issue, which settled today, showed that there was a growing and healthy interest in domestic corporate bond debt.

The bond issue comprised A$400 million floating-rate notes and A$150 million fixed-rate notes. The notes mature in September 2015, the firm said in a statement.

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“The DBP's bond issue was well oversubscribed. It was a significant transaction for those involved, but also for the domestic bond market, as it was the largest domestic unwrapped bond deal by a non-financial issuer for a number of years,” Darcy said.

“This bodes well for the domestic bond market, and we are already seeing a number of bond deals in the making so the pipeline looks good, particularly in the property, resources and infrastructure sectors.”

Allens advised the joint lead managers to the bond issue, the Commonwealth Bank of Australia and Macquarie Capital Advisers.

DBP Finance Co Pty Limited is the finance entity for the DBP Group, which owns and operates the Dampier to Bunbury Natural Gas Pipeline, Australia’s longest natural gas pipeline and one of the most strategically important infrastructure assets in Western Australia.

The Allens team, led by Darcy, included senior associate Paul Cerché and lawyer John-Paul Santamaria.