BOQ RAISE $850M

Written on the 16 February 2010

BOQ RAISE $850M

BANK of Queensland Limited (BOQ) has raised $350 million more than expected for a residential housing trust, with strong participation from the Australian Office of Financial Management (AOFM).

A statement today said the Series 2010-1 REDS Trust RMBS had aimed for a transaction of $500 million but was upsized to $850 million.

BOQ managing director David Liddy (pictured), says the bank is pleased to see a wide group of 20 investors taking part in the first REDS transaction of the year, which is a strong endorsement of its franchise and solid collateral.

“The bank has been active in government-guaranteed term debt markets with the strategic goal of increasing our term debt maturity profile,” says Liddy.

“This deal shows a return to more traditional sources of funding for regional banks, as markets improve.”

AOFM contributed around 30 per cent of the $850 million and the deal was arranged by Deutsche Bank, with Royal Bank of Scotland and Westpac participating as joint lead managers as well.

Liddy this week criticised the Federal Government’s decision to remove the wholesale funding guarantee, warning it could result in a battle for deposits.


Latest News

SUPREME COURT ORDERS OCTAVIAR GROUP TO WIND UP

THE Queensland Supreme Court has ordered the Octaviar Group of companies (formerly known as MFS Group) to be wound...

CEOS BRAVE THE COLD TO RAISE $1.4 MILLION FOR THE HOMELESS

MORE than 400 executives confronted the cold last night in the annual Vinnies CEO sleepout, which took place benea...

JENNIFER WESTACOTT ON BANK TAX: IT EXPOSES GOVERNMENT "DESPERATION"

South Australia's new bank levy exposes the desperation of a government that is unable to get its own budget and ...

BASKETBALL'S COMEBACK CONTINUES WITH NBL CLUBS TO FACE OFF AGAINST CHINA'S NATIONAL TEAM

THE RESURGENCE of Australia's National Basketball League (NBL) continues with China's national team to play t...

Related News

BASKETBALL'S COMEBACK CONTINUES WITH NBL CLUBS TO FACE OFF AGAINST CHINA'S NATIONAL TEAM

THE RESURGENCE of Australia's National Basketball League (NBL) continues with China's national team to play t...

DOMESTIC TOURISM IN AUSTRALIA BREAKS RECORDS, INJECTS $61.7 BILLION INTO NATIONAL ECONOMY

DOMESTIC Australian tourists have spent a record breaking $61.7 billion on intra and interstate travel this year, acc...

THE DOCTORS WHO PLUNGED INTO THE SHARK TANK AND SURVIVED WITH A $500,000 INVESTMENT

THEIR mission is to change the face of cancer care with an app that empowers and connects patients and care givers...

IMF BRACES FOR BIG LOSS FOLLOWING WITHDRAWAL FROM SPOTLESS CLASS ACTION

LITIGATION fund IMF Bentham (ASX: IMF) is set to lose as much as half a million dollars after it ceases funding one o...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter