On August 4, Bank of Queensland (BOQ) (A-/A3/A-) priced the refinancing of the class A2 notes of its REDS Trust Series 2013-1 residential mortgage-backed securities issue. The new, REDS Trust Series 2013-1 class A2R notes will be used to repay the A$170 million (US$127.3 million) outstanding balance of the original class A2 notes. According to KangaNews data, this tranche priced at 115 basis points over bank bill swap rate for a weighted-average life of three years in July 2013. The scheduled maturity of the notes is August 22 2016.