Chicago, April 24 – AIB Group plc priced €625 million of fixed-rate reset additional tier 1 perpetual contingent temporary write-down securities on Tuesday, according to a bookrunner involved with the deal and a notice.
The initial coupon will be 7 1/8%. The coupon resets to five-year mid-swaps plus 438.7 basis points starting in April 2030, and then on five-year anniversaries going forward.
Initial price talk was 7 5/8%.
The bond is callable from October 2029 to April 2030 and every six months thereafter.
J.P. Morgan SE, BofA Securities, Goldman Sachs International, Goodbody, Morgan Stanley and UBS were the bookrunners.
The peak order book was €3.25 billion, with the final book at €2.6 billion.
In initial secondary trades, the price pushed up to 100.5.
The notes will be listed in Dublin.
AIB most recently raised MREL capital in March with a $1 billion 10-year senior bond.
AIB Group is a banking and financial services company based in Dublin.
| Issuer: | AIB Group plc
|
| Amount: | €625 million
|
| Issue: | Fixed-rate reset additional tier 1 perpetual contingent temporary write-down securities
|
| Maturity: | Perpetual
|
| Bookrunners: | J.P. Morgan SE, BofA Securities, Goldman Sachs International, Goodbody, Morgan Stanley and UBS
|
| Coupon: | 7 1/8% initial rate, resets to five-year mid-swaps plus 438.7 bps starting in April 2030 and then on five-year anniversaries going forward
|
| Price: | Par
|
| Yield: | 7 1/8%
|
| Call features: | From October 2029 to April 2030 and every six months thereafter
|
| Trade date: | April 23
|
| Price talk: | 7 5/8%
|
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