08 June 2012 7:19am

Bank of Queensland launched an offer to redeem A$1 billion of notes yesterday. The bank announced that it will set a purchase price, on June 15, for A$475 million of guaranteed senior, unsecured fixed-rate notes and $525 million of floating-rate notes.

Both series of notes, which were issued in May 2000 and re-stated in November 2005, have a due date of October 22 this year.

The offer will close on June 14 and BOQ expects to settle on June 22.