By Paul A. Harris
Portland, Ore., Nov. 20 - Allied Irish Banks, plc priced a €500 million issue of three-year senior notes (Ba3/BB/BBB) at a 235 basis points spread to mid-swaps on Wednesday, according to a market source.
The reoffer price was 99.7, and the notes yield 2.981%.
Joint bookrunner Deutsche Bank AG, London Branch was the stabilization coordinator, Goldman Sachs International, JPMorgan Chase Bank, Morgan Stanley & Co. International and Nomura International plc were the joint bookrunners.
At the final pricing the order book contained €3.19 billion of orders, according to a statement from the company.
The deal attracted a very high quality mix of over 260 investors from 25 countries, including the U.K., Germany, the Nordics, France and Italy, the statement added.
Of the allocations, 99% were made to international investors.
| Issuer: | Allied Irish Banks, plc
|
| Amount: | €500 million
|
| Maturity: | Nov. 28, 2016
|
| Securities: | Senior notes
|
| Bookrunners: | Deutsche Bank AG London Branch, Goldman Sachs International, JPMorgan Chase Bank, Morgan Stanley & Co. International, Nomura International plc
|
| Coupon: | 2 7/8%
|
| Price: | 99.7
|
| Yield: | 2.981%
|
| Spread to mid-swaps: | 235 bps
|
| Trade date: | Nov. 20
|
| Settlement date: | Nov. 28
|
| Ratings: | Moody's: Ba3
|
| Standard & Poor's: BB
|
| Fitch: BBB
|
| Distribution: | Regulation S only
|
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