AIB pays little for third euro holdco

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By Jasper Cox
21 May 2019

Allied Irish Banks was able to pay a minimum new issue premium for its third home-currency senior bond issued from the holding company, as it builds up its debt for minimum requirements for own funds and eligible liabilities (MREL). HSBC was also issuing from its holding company on Tuesday, but in sterling.

AIB Group came to the market on Tuesday, looking to issue five year debt. Arrangers Goldman Sachs, HSBC, Morgan Stanley, Nomura and UBS laid out initial price thoughts in the 160bp area.

With the order book size in excess of €2bn, the deal ...

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