AIB Group offers early buyback for securities with 2025 reset date

Chicago, April 24 – AIB Group plc started a tender offer on Tuesday for any and all of the €500 million of outstanding fixed-rate reset additional tier 1 perpetual contingent temporary write-down securities (ISIN: XS2056697951), according to a notice.

The first reset date is April 9, 2025 when interest would reset to the reset reference rate and 570.2 basis points.

The bank is offering a par purchase price. Interest will also be paid.

The group will be issuing new additional tier 1 securities, announced separately. The tender offer is conditioned on the new financing.

Preferential allocation may be given to tendering noteholders.

Tender instructions are due by 11 a.m. ET on April 29.

Results will be announced on April 30.

Settlement is planned for May 2.

J.P. Morgan SE is the dealer manager (+44 20 7134 2468, liability_management_EMEA@jpmorgan.com).

The structuring adviser is Goodbody Stockbrokers UC.

Kroll Issuer Services Ltd. is the tender and information agent (+44 20 7704 0880, aib@is.kroll.com, https://deals.is.kroll.com/aib).

AIB Group is a banking and financial services company based in Dublin.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.