Mismatching compounding/basis between yield curve and floating rate instruments

This is a simple yes/no question about what Matlab is doing "under the hood" which I couldn't find the answer to in the documentation.

From LIBOR and par swap rates, I've constructed an IRCurveData and RateSpec yield curve of continuously compounding spot rates with actual/actual day count conventions:

    intRateCurve = IRDataCurve('zero', settle, spotDates, spotRates, 'Compounding', -1);
    spotRateSpecif = toRateSpec(intRateCurve, spotDates);

I want to price a floating-rate bond, which is some margin (43.4 basis points) above 3-month LIBOR floating rate (which has actual/360 day count and compounds quarterly).

    InstSet = instfloat(43.4, datenum('12/13/2016'), datenum('9/13/2024'), 4, 2, 15000000, 1);

Now I want to simply type the following to price the bond:

 result = intenvprice(spotRateSpecif, InstSet);

Does Matlab correctly obtain reset rates for this floating bond by first computing the continuously compounding forward rates, then converting those to act/360 quarterly compounding rate to predict 3-month LIBOR? Or, do I need to create a different yield curve? Then, does Matlab add 43.4 bps to this act/360 rate (NOT the continuously compounding forward rate) to use in the prediction of future cash flows?