AIB notches up AT1 debut on comeback trail

摘要

Allied irish banks last Thursday priced the second of two deeply subordinated bonds that form a crucial part of its capital reorganisation and should also kick-start the repayment of state bailout funds received at the height of the crisis. AIB, which is 99% state-owned and is eyeing a partial flotation in 2016, had agreed with regulators to issue at least €750m of Tier 2 and €500m of Additional Tier 1 to shore up its capital levels. Orders of €4.75bn from around 275 accounts flowed in for the €500m AT1 trade, just a week after it priced a €750m 10-year non-call five-year Tier 2 bond.