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Bank of Queensland (Baa1/A-): New Covered FV; Aaa/AAA Expected

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• GUIDANCE: Bank of Queensland EUR Bmark Long 5Y Cov MS+50a.

• We see FV at MS+45a, ~6bp wide to Westpac / CBA.

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• GUIDANCE: Bank of Queensland EUR Bmark Long 5Y Cov MS+50a.

• We see FV at MS+45a, ~6bp wide to Westpac / CBA.