BOQ priced $100M of 2.25 year bank paper at 98bps above the 3 month BBSW. about 3 months ago they probably could have done this at around +80 to +85. if we say a 15 bps increase this equates to a cost increase of $150k. Not much you say, but any new debt BOQ need to raise (or all banks for that matter) is going to be higher than what it may have been earlier, so expect a lower NIM for this FY (in my opinion)
still good buying (or holding) at this level though
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