Gilbert + Tobin advised National Australia Bank, Westpac and Deutsche Bank in their capacity as Joint Lead Managers on the issue of $150 million Capital Notes by Bank of Queensland.

The transaction is the first issue of Additional Tier 1 Capital in the wholesale market in Australia through sub-investment grade notes. The proceeds of the issue will be used for general corporate purposes.

Duncan McGrath, partner, commented: “We are delighted to have acted for the Joint Lead Managers on this first of its kind transaction. It was great to work so closely with National Australia Bank, Westpac and Deutsche Bank and to see them achieve such a fantastic outcome.”

The team at Gilbert + Tobin included partner Duncan McGrath, special counsel Benjamin Downie and lawyer Elyse Newell. This transaction underlines the depth of Gilbert + Tobin’s Banking and Infrastructure practice and follows it advising on some of the most complex and innovative transactions in the Australian market to date.


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