Bank of Queensland launches 2012 bonds-source

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SYDNEY, July 1 (Reuters) - Bank of Queensland (BOQ.AX),
Australia's seventh-biggest lender, has launched a fixed and
floating rate issue of October 2012 bonds, said a source with
knowledge of the offer.

The issue will be guaranteed by the Commonwealth government
and carry a rating of AAA. Pricing is expected on Wednesday at
around 70 basis points over BBSW.

Lead managers are RBS, UBS and Westpac.
(Reporting by Wayne Cole)