AIB restarts AT1 supply with unusual, blowout deal

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By Tyler Davies
16 Jun 2020

AIB Group priced a €625m additional tier one (AT1) bond in euros this week, following several volatile days of trading for the asset class. The deal surpassed expectations in terms of size and pricing, having been run along with a tender offer for one of the Irish lender’s existing AT1s.

AIB Group told the market to expect a €500m perpetual non-call 5.5 year transaction on Tuesday.

Bookrunners Bank of America, Goldman Sachs, Goodbody, JP Morgan, NatWest Markets and UBS went out with initial pricing in the 7% area, but they were quickly met with a wall of ...

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