Recent Capital Raisings
Capital Notes Offer 2017
On 22 November 2017 Bank of Queensland Limited announced its intention to raise $300 million through the offer of Capital Notes, with the ability to raise more or less (Offer). The Offer closed on 15 December 2017 and following strong investor demand, the size of the Offer was increased to $350 million.
The Capital Notes were issued on 28 December 2017, and began trading on a deferred settlement basis on the Australian Securities Exchange (ASX) on 29 December 2017 under the ASX code "BOQPE". Trading on a normal T+2 settlement basis commenced on 3 January 2017.
Capital Notes are fully paid, unsecured, non-cumulative, perpetual, convertible notes which will pay, subject to the issue terms and BOQ’s discretion, preferred floating rate quarterly distributions which are expected to be fully franked. Capital Notes qualify as Additional Tier 1 Capital of BOQ under APRA’s Prudential Capital Requirements.
Entitlement Offer 2014
On Friday 11 April 2014 BOQ announced a 3 for 26 accelerated renounceable entitlement offer of new BOQ ordinary shares at a price of $10.75 per new share, to raise approximately $400 million for the acquisition of Investec Bank (Australia) Limited.
The institutional component of the entitlement offer closed on 16 April 2014, raising approximately $183 million with approximately 95% take-up by eligible institutional shareholders and the remaining entitlements sold in an institutional shortfall bookbuild at $12.05 per share. The retail component of the entitlement offer closed on 9 May 2014, raising approximately $125 million with 57% take-up by eligible retail shareholders and the remaining entitlements sold in an institutional shortfall bookbuild at $11.90 per share.
View the 2014 Retail Entitlement Offer Booklet.
View the ASX release - BOQ Announces Completion of Retail Bookbuild.