BOQ pays 107 bps for five-year notes

Bank of Queensland will pay 107 basis points over the three-month bank bill swap rate on an issue of five-year floating rate notes, in the bank's first five-year senior transaction since the financial crisis.

BOQ announced yesterday that it had raised A$600 million through a $425 million issue of FRNs and a $125 million issue of five-year fixed rate notes.

The fixed-rate notes were priced at a semi-annual coupon of four per cent.

BOQ chief financial officer Anthony Rose said in a statement that 70 investors participated in the issue, with 88 per cent of the notes going to domestic investors and 12 per cent overseas.