Bank of Queensland
The Australian securitisation market is arguably in its best shape since the financial crisis – at least in the sense of the robustness of market infrastructure and diversity of participants on the issuer and investor sides. In November, a record number of delegates gathered in Sydney at Australian Securitisation 2018, the annual conference of the Australian Securitisation Forum, to discuss the state of play – and some of the looming challenges.
On 3 December, Bank of Queensland (BOQ) (BBB+/A3/A-) launched a 2.25-year domestic floating-rate note (FRN) transaction, with indicative price guidance of 98 basis points area over three-month bank bills. Pricing is expected on the day of launch, according to lead manager National Australia Bank.
On 29 October, Bank of Queensland (BOQ) launched its asset-backed securities (ABS) transaction, REDS EHP 2018-1. The forthcoming deal has indicative total volume of A$500 million (US$354.7 million) with the ability to upsize. Pricing is expected on or before 2 November.
On 24 October, Bank of Queensland (BOQ) began taking indications of interest for its asset-backed securities (ABS) transaction, REDS EHP 2018-1.