Bank of Queensland launches capital notes offer to raise $300m

Company News

by Kathy Skantzos

Bank of Queensland (ASX:BOQ) has launched a capital notes offer to raise $300 million.

The funds from the offer will be used for the bank’s general corporate and funding purposes, including partially refinancing its convertible preference shares.

As part of the offer, registered holders of the bank’s convertible preference shares will be able to reinvest some or all of these shares in the capital notes.

The capital notes have an issue price of $100 each.

The notes will qualify as additional tier 1 capital under APRA’s requirements.

Shares in Bank of Queensland (ASX:BOQ) closed 0.4 per cent higher to $12.65.

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.