KWM Advises BOQ On Capital Raising

AU | EN
Current site :    AU   |   EN
Australia
Belgium
China
China Hong Kong SAR
Germany
Italy
Japan
Singapore
Spain
UAE
United Kingdom
United States
Global

King & Wood Mallesons (KWM) acted for Bank of Queensland Limited (BOQ) in relation to its $250 million institutional placement and targeted $25 million share purchase plan.

The share purchase plan will remain open to eligible shareholders until just prior to the end of 2019.  The funds raised will provide BOQ with an increased buffer above APRA's "unquestionably strong" Common Equity Tier 1 capital ratio benchmark and create additional capacity to support the implementation of BOQ's strategic transformation.

The KWM team was led by partners Rhys Casey and Ian Paterson, with support from senior associate Isaac Evans and solicitor Emily Travers-Jones.

Commenting on the transaction, Rhys Casey said: "The raising further strengthens BOQ's balance sheet and provides a platform for BOQ to pursue its strategic priorities."

KWM also advised BOQ on its Additional Tier 1 Capital Notes offer in 2017.