Powered by MOMENTUM MEDIA
realestatebusiness logo

Subscribe to our newsletter

BOQ raises $600 million through five-year funding transaction

Bank of Queensland (BOQ) has priced a new five-year funding transaction, raising $600 million through the issue of $425 million five-year floating rate notes and $125 million five-year fixed rate notes under its Australian Debt Instrument Program.

The floating tranche is priced at a margin of 107 basis points over the three-month Bank Bill Swap Rate (BBSR), while the fixed tranche is priced with a semi-annual coupon of 4.00 per cent (at the equivalent of 107 basis points over the semi/quarterly asset swap).

“This marks BOQ’s first five-year benchmark senior transaction since the global financial crisis,” BOQ chief financial officer Anthony Rose said.

“We’re pleased we’ve been able to continue to build out our domestic yield curve with new fixed and floating five-year tranches, taking advantage of positive credit rating momentum and strong full year results.

“Over 70 accounts participated across both tranches following a successful deal road show in Melbourne, Sydney and Brisbane,” he said.

Advertisement
Advertisement

The geographic split was 88 per cent domestic investors and 12 per cent through overseas investors.

BOQ raises $600 million through five-year funding transaction
mortgagebusiness

Latest News

The bank has announced it is partnering with Nano to utilise its tech to offer a digital mortgage for retail customers in Q3. ...

The Reserve Bank has revealed that it weighed up three different options for the size of the first cash rate rise in almost 12 years. ...

The major bank has launched its digital home loan division, Unloan, which is a product that has a progressive interest rate discount. ...

VIEW ALL

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

What is the maximum proportion of income borrowers should use to service a mortgage?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.