Wealth Focus has secured access to an allocation of BoQ Capital Notes IPO. Investors looking to apply for an allocation will need to contact us on 1300 559 869 by close of business Tuesday 28th November. NB This is likely to close earlier
Allocations may still be available after this date but will be distributed on a first come first served basis.
Bank of Queensland Capital Notes
The latest fixed income hybrid has just been launched from Bank of Queensland offering an indicative yield of 5.48%-5.68%pa.
The lack of new issuance over the last year has led to a net redemption of hybrids, with money returning to the secondary market, contracting margins. We feel that with reduced pressure on the banks to raise capital ratios, hybrid spreads are likely to continue to contract in 2018.
Our view is that BoQ Capital Notes is currently priced in line with other recent issues from the Insurance and 2nd Tier Banks, but with such a small issue and lack of general offer, investors are going to be lucky to source stock.
We would suggest investors looking for an allocation, request stock sooner rather than later as it is likely this issue will close early.
Call us on 1300 559 869 to ask us to secure an allocation to either the new issue or rollover offer.
- Download a prospectus
- Download a fact sheet
- Our Analysis
- Webinar – An Introduction to Fixed Income
- Broker firm offer – Our allocation through the broker firm offer means investors are more likely to achieve their desired allocation without waiting for the shareholder offer (there is no general offer).
- Limited Offer – The offer is to raise $300 Million, with the ability to raise more or less. The Notes will be traded on the ASX.
- Income – BoQ Capital Notes provide holders with quarterly fully franked distributions.
- High level of income – The indicative distribution rate is 3.75%-3.95% over the 90 day Bank Bill Swap Rate (1.73% – 23/11/17) for an indicative rate of 5.48%-5.68% pa.
- Minimum investment – $10,000 (this is a Wealth Focus minimum)
- Issue Price – $100
Find out more
If you would like further information on BoQ Capital Notes Offer, please click on the links below:
- Fact sheet
- Our Analysis
- View our online webinar – An Introduction to Fixed Income
Please call us on 1300 559 869 to ask us to secure an allocation.