BoQ had a big broker syndicate taking expressions of interest for its five-year AUD floating rate bond deal on Friday afternoon.
Bank of Queensland had a big broker syndicate rounding up investors for a five-year covered bond deal on Friday afternoon.Notices sent to prospective backers said the bond would pay 125 to 130 bps above the three-month bank bill swap rate. It was expected to be rated AAA by Fitch.
The transaction was expected to launch as early as Friday and would settle on May 5. It is a part of Bank of Queensland’s $6 billion covered bond programme.BOQ’s trip to the debt capital markets comes a four per cent fall in cash net profit to $256 million for the six months to the end of February and provided more detail on a series of risk and compliance issues that have plagued the business.
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