Little appetite for BOQ

Philip Bayley
Bank of Queensland returned to the domestic market with another government-guaranteed bond issue. The bank raised A$1.1 billion, via an issue of four-year floating rate notes, on Wednesday. The notes priced at 50 bps over bank bills, to which the bank can add the 150 bps guarantee fee. Bank of Queensland added a further A$150 million to the line on Thursday.

Presumably, there remains little or no appetite for an unguaranteed issue from Bank of Queensland, at least not at a spread less than 200 bps.