Bank of Queensland (ASX:BOQ) issues Capital Notes 2 as bank shares fall

The Bank of Queensland Limited (ASX: BOQ) today announced the completion of its Capital Notes 2 offer. This has raised $260 million through the issue of 2.6 million Capital Notes 2 for $100 each. At the time of writing, the BOQ share price has fallen by 3.02% to $7.72, amid a broader fall in banking shares on the ASX today.

More about the bank’s Capital Notes 2 

The bank says strong investor demand saw the size of the offer increased from $250 million to $260 million. The note was priced at 3.8% above the benchmark BBSW (bank bill swap rate) paid quarterly, and the first payment in February 2021 has been fixed at 3.82%.

BOQ did not issue a statement today about the capital’s usage but in general, banks may issue capital notes…