Bank of Queensland taps state guarantee for A$1bn bond

02 Mar 2010

Bank of Queensland became the latest Australian financial institution to sell government guaranteed bonds on Tuesday, raising A$1bn ($900m) less than a month before the facility is withdrawn.

Royal Bank of Scotland, Westpac Banking Corp and UBS arranged a A$1bn ($899m) five year bond for the bank, twice the minimum size it was hoping to get from the issue. It was split between fixed and floating rate tranches, and priced at 35bp over the bank bill ...

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