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BOQ advised on capital notes offer

BOQ advised on capital notes offer

BOQ advised on capital notes offer

The Bank of Queensland has been advised on a capital notes offer worth $325 million.  

Firm: King & Wood Mallesons (Bank of Queensland Limited)

Deal: Bank of Queensland made a capital notes offer.

Value: $325 million

Area: Banking and finance

Key players: The King & Wood Mallesons team advising Bank of Queensland was led by partners Ian Paterson, Rhys Casey, Darren McClafferty and Evie Bruce, with support from senior associates Isaac Evans and Sylvester Urban, and solicitors Charlene Soh, Akshay Naran, Stephanie Judd and Samir Bhagat.

Deal significance: Bank of Queensland has been advised on a capital notes offer to raise $325 million, with the ability to raise more or less.

The bank is issuing the notes to raise additional Tier 1 capital for general corporate and funding purposes, including the partial refinancing of convertible preference shares issued in 2012 through a reinvestment offer, according to a statement from King & Wood Mallesons.

King & Wood Mallesons partner Rhys Casey said: “It has been a pleasure supporting BOQ on this capital transaction, which has received very strong investor support and will deliver increased flexibility in terms of BOQ’s capital management and funding strategy”.

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