King & Wood Mallesons (KWM) has advised Bank of Queensland Limited (BOQ) on its offer of Capital Notes 3, which raised $400 million.
BOQ issued Capital Notes 3 to raise eligible Additional Tier 1 Capital as part of its capital management strategy. The proceeds of the issue will be used for BOQ's general corporate and funding purposes, including to redeem the $200 million wholesale capital notes issued by Members Equity Bank Limited on 28 November 2017 (to which BOQ succeeded as issuer).
The KWM team advising on the transaction was led by partners Rhys Casey and Ian Paterson, senior associates Matt McKeown and Kathryn Tomasic and solicitors Sacha Kemp, Isobel O’Malley and Shannon O’Brien. Scott Heezen, Stuart Broadfoot and Sylvester Urban provided tax advice to BOQ on the deal.
Commenting on the transaction, Rhys Casey said: "We are very pleased to have helped BOQ to execute this capital transaction, which has received strong investor support and is an important part of BOQ's ongoing capital management and funding strategy."
KWM is a leading adviser in hybrid securities and has a proud relationship with BOQ.
