AIB coaxes back buyers after Irish clean-up

24 Sep 2009

Allied Irish Banks yesterday (Thursday) reopened the unguaranteed senior unsecured market for Irish issuers after a gap of more than a year.

It sold Eu1bn of three year bonds at 250bp over mid-swaps and received praise from all sides.

Bankers say it marks the beginning of a new asset class because it is the first unguaranteed deal from an Irish bank since details of the country’s Eu77bn property loan clean-up scheme ...

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