Bank of Ireland successfully raises €600m of long term unsecured funding
Bank of Ireland Group (‘BOIG’) today (1 July 2019) announced that it has raised €600 million of HoldCo Senior Unsecured funding with a maturity of 5 years, callable after 4 years. This is a Senior Unsecured transaction from our holding company, BOIG plc and the instrument carries a yield of 0.836%. This transaction successfully contributes €600 million to the Group’s MREL requirement.
Today’s issuance was very well received by investors with a high quality and diversified order book that was c.4.5 times oversubscribed.
Bank of Ireland successfully issued a €600m 5 year HoldCo Senior Unsecured bond, callable after 4 years.
The high quality of investor demand for this bond strongly underlines the Group’s ability to access funding from international capital markets.
Pricing of 115 basis points over 4 year mid swaps equates to a yield of 0.836%.
Contributes €600m towards the Group’s MREL requirement.
Lead investment banks on the transaction were BNP Paribas, Barclays, UniCredit, J.P. Morgan and NatWest Markets.