Bank of Queensland tenders for A$1.23 billion of floaters due 2013

By Susanna Moon

Chicago, May 23 - Bank of Queensland Ltd. said it began an offer for its A$1.23 billion of outstanding guaranteed series 33 senior floating-rate notes due Oct. 25, 2013.

Pricing for the offer will be set at 9 p.m. ET on May 29. The rate will be set using the one month-BBSW and the two-month-BBSW plus a spread.

The bank also will pay accrued interest to the settlement date, which is expected to be June 2.

The offer will end at 2 a.m. ET on May 25.

The notes were issued May 26, 2000 and are guaranteed by the Commonwealth of Australia.

UBS AG, Australia Branch is the offer manager.

Bank of Queensland is a Brisbane, Australia-based financial services company.

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