AIB scores tier two for MREL
AIB Group has wasted little time in accessing the debt markets for subordinated capital. It launched a tier two bond this week, little over a month after selling an additional tier one (AT1) bond, adding to its minimum requirements for own funds and eligible liabilities (MREL).
AIB opened books on Tuesday morning for a tier two bond with expected ratings of Ba1/BB/BBB-.
The Irish lender was targeting €500m and a 10 year non-call five tenor from the outset.It chose Bank of America, BNP Paribas, Citi, Davy, NatWest Markets and ...