The increased share resulted as much from the very low issuance globally as it from the fact that the Australian banks maintained their access to bond markets due to their strong balance sheets, high credit rating and, for a period, the government guarantee (see below).
6  BIS Review 115/2010  The premium to obtain Australian dollars under swap has risen compared to the pre-crisis period. Historically, Australian institutions paid a small premium to swap foreign currency into Australian dollars. The premium arises because domestic issuers tend to issue a greater value of foreign currency bonds than foreigners issue of Kangaroo and other Australian dollar bonds.