CFS Retail Property Trust has launched a minimum $100m increase to its existing 2012 bond, the first wholesale bond offering in the Australian market since 2007.

The move is yet another sign of some normalcy returning to shattered credit markets, and indicates investors are warming to the idea of putting cash to work beyond a staple diet of highly rated financial institutions and AAA-rated supranationals.

The Sydney real estate investment trust was planning to increase its existing September 2012 notes, which carry a 5.75% coupon, to at least $200m, the joint lead managers said.

The Australian